Bank of China (BOC) on Dec. 19 opened its Peru representative office in Lima, which is the bank’s fourth branch in Latin America. The establishment of the Peru office means BOC’s overseas service network would cover 48 countries and regions worldwide, said Wang Xiquan, chief supervisor of the BOC at the opening ceremony…Full Article: Xinhua Finance Dec 2016
- In December 2016, the Bank of China and New Zealand’s Fonterra (dairy) signed an agreement to establish a CNY 1.5 billion yuan (US$216.3 million) multi-currency facility.
- In early November 2016, Peru’s SENASA and China’s AQSIQ signed an agreement on the exportation of blueberries to the mainland.
- On 21 September 2016 (the day before China’s US beef ban was lifted), for the first time ever China’s central bank permitted a US-based bank to clear Chinese CNY (yuan) transactions. The New York branch of the Bank of China was given permission to begin yuan clearing services. During the same month, Fonterra opened a new dairy hub in Shanxi Province According to New Zealand’s Food Minister, Fonterra’s dairy hub in Shuozhou, Shanxi Province will have 30,000 cows, of which 16,000 will be dairy cows.
- In May 2016, China and Peru signed a phytosanitary agreement that permitted Peruvian avocado exports to China.
- In April 2016, Peru exported (by air freight) fresh asparagus for the first time to mainland China. The asparagus was sold by the Citysuper supermarket chain in Shanghai.
- In February 2016, Peru’s Embassy in Beijing held a mango fruit promotional event.
- In 2015, according to Peru’s ADEX, Peru exported nearly US$242 million worth of food products to China. These exports included the ‘pota’ squid [aka the Humboldt squid], grapes, seaweed, crustaceans, flour, trout, fish liver, maca [a root vegetable], maca flour, tangerines and white corn.
- In December 2014, China granted Peru easier access to export grapefruit, oranges, mandarins/tangerines, and citrus hybrids to the mainland.
- In November 2014, Bank of China established operations in New Zealand (Auckland).
- In March 2014, China’s central bank announced the establishment of a credit system for serving small and micro-sized companies and farming households. The system, which will aid farmers to receive small loans, was to be piloted in 31 cities and 32 counties, including Gaoling County, Shaanxi Province.
- In February 2014, China’s central bank, the People’s Bank of China (PBC) announced they will institute customized financial services in order to modernize farming practices. For example, farmers who cultivate fruit or other crops will long growth cycles will be eligible to receive loans that have a maturity length of up to 10 years.
Hong Kong Trends