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ICBC Singapore clears 35m yuan transaction through new China system

Launch of Crossborder Interbank Payment System marks turning point in internationalisation of yuan

An employee of an Industrial and Commercial Bank of China Ltd (ICBC) branch, part of the Shanghai Free Trade Zone, works at her desk during a government organized media tour in Shanghai, in this Sep 24, 2014.


THE Industrial and Commercial Bank of China (ICBC) Singapore cleared a yuan transaction on Thursday under China's long-anticipated international payment system.

ICBC Singapore said it successful cleared 35 million yuan (S$7.8 million) on the Crossborder Interbank Payment...

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