CDB to sign MOU on Renminbi loans with BRICS members

David Nealis President of Blue Bridge

CDB to sign MOU on Renminbi loans with BRICS members
China Development Bank (CDB) will sign a memorandum of understanding with Brazilian, Russian, Indian and South African counterparts to make renminbi loans available to them, in a major move to boost the Chinese currency's international status, according to a South China Morning Post report. Economists said the plan to promote Renminbi loans among BRICS nations would take the internationalization of the RMB to the next stage. The MOU is expected to be signed in New Delhi on 29 March.

China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

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