In the MoU, CCB and Euronext Paris agree to develop diversified RMB financial products in Europe, including the first RMB denominated money market ETF in Eurozone already listed on Euronext Paris.. CCB considers the first RMB denominated money market ETF in Eurozone launched by its subsidiary CCBIAM as a breakthrough, which strives to support the strategy of listing CCB's RMB products in multiple markets, i.e. the implementation of a multi-time zone, cross-market offshore RMB fund, covering major markets worldwide.
In recent years, CCB has been actively promoting its transition into a globalized conglomerate and its offshore RMB business in Europe is a key element in its internationalization strategy. Last year, CCB has signed a MoU with the London Stock Exchange. On 29 June, Chinese Premier Li Keqiang witnessed the signing of a MoU between CCB and Euroclear. And today, CCB agrees with Euronext Paris in developing RMB exchange-listed products. All these represent an important milestone in this developmental strategy. The cooperation with Euronext will drive the two parties in developing France offshore RMB market, establishing a RMB asset management and trading platform in Europe, and eventually creating a sustainable ecosystem for RMB in the area.
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