ANZ Bank announced offshore Renminbi capability for its corporate and commercial clients operating in Papua New Guinea
This will providethem withthe ability to trade directly in Renminbi or Chinese Yuan when dealing with China.
It’s good news for countries that trade heavily with China. Research has it that National Accounts for the December Quarter came in slightly stronger than expected with assumptions thatthe economy have achieved a soft landing, at least for now.
Business research and insights and online economic research sit’s indicates that real growth rose to 7.9 percent ending seven consecutive quarters of slowed growth.
And withthe opportunities in China, ANZ bank is working to create a conducive environment for business dealings. The first step beingthe;
The bank says total trade between China andthe Pacific is growing rapidly. Last year it reached to US$1.2 billion, eight times greater than in 2000 and 20 percent larger than in 2010.
ANZ’s Renminbi offering futher enhances its reputation as one of those superior regional banks providing customers with a number of benefits.
Festus Maiginap, National EMTV News
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