China’s UnionPay Cards Now Accepted by BPS-Sberbank

BPS-Sberbank has become the second commercial bank in Belarus to accept China’s UnionPay cards, according to Shanghai-based UnionPay International Wednesday [12 April 2017]. According to the agreement, BPS-Sberbank will accept and issue UnionPay cards within the year and the two parties will also cooperate on launching mobile payment services in Belarus…Full Article: ECNS.cn Apr 2017

China to Loan Nigeria US$4.5 Billion for Agriculture Projects

The Peoples Republic of China has said it will lend Nigeria $4.5 billion to boost local agriculture. The loan is to enable Nigeria purchase farming tools including tractors, bulldozers, graders, irrigation pumps, amongst others…Full Article: AllAfrica Apr 2017 Key Point The US$4.5 billion loan will have a 20 year repayment term and moratorium of 5

Agriculture-related Loans Topped CNY 28 Trillion at the End of 2016

Chinese banks strengthened financial support for agriculture, small-and-micro enterprises and affordable housing projects last year. Outstanding agriculture-related loans stood at 28.2 trillion yuan (about 4.1 trillion U.S. dollars) at the end of 2016, up 7.1 percent year on year, according to a statement posted on the website of the China Banking Regulatory Commission. Outstanding loans

Australian Grocery Chain Woolworths to Accept China UnionPay Cards at its Supermarkets

The Australian grocery giant Woolworths said on Tuesday [7 February 2017] that it will now accept UnionPay cards at its stores; China’s leading debit and credit cards. Woolworths will offer all forms of UnionPay payment, including the contactless mobile based transactions at its terminals…Full Article: China Daily Feb 2017 Key Points According to China UnionPay

New Zealand’s Fonterra Inks Agreement with the Bank of China to Establish US$216 Million Multi-Currency Facility

Dairy giant Fonterra said on Thursday [15 December 2016] that it had established a 1.5 billion yuan ($216.36 million) multi-currency facility with Bank of China. Fonterra, the world’s largest dairy exporter, said the facility will provide diversity in its yuan funding sources for its operations in China, its largest market…Full Article: The Global Times Dec

China Lifts Bans on US Beef

China on Thursday [22 September 2016] lifted a decade-plus ban on some beef products from the United States, according to agriculture and quarantine regulators. The ban on bone-in and boneless beef from cattle under 30 months old from the United States was removed effective immediately, said a statement released by the Ministry of Agriculture and