Geopolitics: China’s 2 BIG Moves

1. China has advanced the launch of the renminbi denominated Gold Exchange by 11 days.
Rabbit hole researchers will note the masonic pillars outside the Shanghai Gold Exchange.

2. China announces Clearing Bank. Russia and China agreed to create SWIFT alternative!

First Deputy Prime Minister Igor Shuvalov

First Deputy Prime Minister Igor Shuvalov

BEIJING, September 10, 2014. /ITAR-TASS/. Russia and China are discussing setting up a system of interbank transactions which will become an analogue to International banking transaction system SWIFT, First Deputy Prime Minister Igor Shuvalov told PRIME on Wednesday after negotiations in Beijing.

“Yes, we have discussed and we have approved this idea,” he said.

Russian authorities wanted to decrease the financial market’s dependence on SWIFT since the introduction of the first U.S. sanctions, when international payment systems Visa and MasterCard denied services to some Russian banks owned by blacklisted individuals.

[Emphasis added for discussions. ~Ron]

According to Shuvalov, Russia has been also discussing establishment of an independent ratings agency with China. Concrete proposals will be made by the end of 2014, he said.

As regards China’s payment system UnionPay cooperation with the yet-to-be-established Russian national payment system, Shuvalov said that UnionPay is ready for a full-scale collaboration and will provide all infrastructural capacities for that.

19 Sept 2014
More moves from China, this time in Paris and London!



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One comment on “Geopolitics: China’s 2 BIG Moves
  1. RonMamita says:

    Two thirds of Russian investors are ready to invest in BRICS markets

    Experts say the statistics show a return to confidence among Russian businesses.
    May 30, 2014 Alexei Lossa
    Source: Russia Beyond the Headlines –
    Source: ITAR-TASS New research suggests that Russian investors are reorienting themselves to the markets of the BRICS countries (Brazil, Russia, India, China, South Africa). According to studies conducted by Ernst & Young, during the next 12 months, 73 percent of Russian entrepreneurs are planning to invest in the BRICS countries and only 6 percent in the developed markets. Forty percent of those polled declared themselves willing to invest in China, followed by India and Brazil. A new landmark In the coming years, China will become a primary focus for Russian investments in foreign markets, as reported in the Ernst & Young study “Capital Confidence Barometer: A little sunlight in cold water”. According to the document, 40 percent of the companies named China their top priority. Following China are the markets of Brazil and India.
    Source: Russia Beyond the Headlines –

    Bank of China (Hong Kong) partners with UnionPay International to pioneer the RMB Settlement Service of UnionPay Card for Hong Kong Merchants

    04 Dec 2013 Via:

    Bank of China (Hong Kong) ( “BOCHK” ) and UnionPay International today jointly announced to pioneer the RMB settlement service of UnionPay Card for merchants in Hong Kong. In addition to providing RMB settlement service for the merchants accepting payments made by UnionPay cards, this initiative will further promote the development of cross-border settlement in RMB and enhance the competitive advantages for Hong Kong merchants.

    The launch ceremony was officiated by Mr Niu Xiaomin, Deputy President of the People’s Bank of China ( “PBOC” ) Guangzhou Branch; Mr Esmond Lee, Executive Director (Financial Infrastructure) of the Hong Kong Monetary Authority; Mr Cai Jianbo, CEO of UnionPay International; Mr Jason Yeung, Deputy Chief Executive of BOCHK; and Mr Dickson So, General Manager of BOC Credit Card (International) Limited ( “BOC Credit Card” ).

    BOC Credit Card is the acquirer of the RMB settlement service of UnionPay Card for merchants in Hong Kong. Sa Sa International Holdings Ltd, Chow Tai Fook Jewellery Co. Ltd, Sogo Hong Kong Co. Ltd, Oriental Watch Group and Yue Hwa Chinese Products Emporium Ltd are among the first batch of participating merchants of the service. They will be able to settle their HKD transactions in HKD or RMB conveniently to save the time required for conversion at banks.

    During his address at the ceremony, Mr Cai Jianbo, CEO of UnionPay International, said, “The RMB settlement service launched by UnionPay International and BOCHK for Hong Kong merchants has opened up a direct channel for acquiring the currency and thus reduces exchange losses. As a result, merchants would be more willing to accept the UnionPay RMB Card, providing better services for the cardholders who wish to acquire and use RMB. Moreover, this new business, which involves circulation and settlement of RMB as the single currency with the UnionPay Card, facilitates the internationalisation of RMB. It also helps expand Hong Kong’s RMB capital pool and promote the development of the offshore RMB business. Through its new offering, UnionPay International will continue to further support Hong Kong acquirers in innovating RMB services, presenting more opportunities to local merchants who accept the UnionPay cards.”

    Mr Jason Yeung, Deputy Chief Executive of BOCHK, said, “BOCHK takes great pleasure in joining hands with UnionPay International to pioneer the RMB settlement service of UnionPay Card for merchants in Hong Kong. In line with the Circular concerning the Simplification of Cross-border RMB Procedures and Improvement of Relevant Policies issued by PBOC in July this year, this initiative will promote the use of RMB by banks, financial institutions and corporations as well as further enhance the efficiency of RMB cross-border settlement. The service will help strengthen the competitiveness of Hong Kong as an offshore RMB business centre and boost growth in cross-border flow of visitors, commodities and capital given the increasingly closer economic ties between Hong Kong and the Mainland.”

    UnionPay International possesses comprehensive service capability in the international credit card market while BOCHK enjoys unique competitive edges in the offshore RMB business. By combining the strengths of both strong franchises, this innovative service helps meet the growing needs for cross-border settlement in RMB. Over 11 million UnionPay cards have been issued by card issuance institutions in Hong Kong, including BOC Credit Card.

    As the market leader in the RMB business in Hong Kong, the BOCHK Group has the most extensive service networks, a diversified range of RMB products and services, a proven track record of cross-border trade and settlement, as well as a strong professional team with sound knowledge of the financial policies and regulations of both Hong Kong and the Mainland markets. Capitalising on its close collaboration with its parent, Bank of China, the BOCHK Group provides quality and professional RMB services to its customers.

    For more details on the RMB settlement service of UnionPay Card provided by BOC Credit Card for Hong Kong merchants, please call its Merchant Business Development Hotline at (852) 2853 8702.

    – End –

    About Bank of China (Hong Kong) Limited

    Bank of China (Hong Kong) Limited ( “BOCHK” ), established on 1 October 2001, is a leading listed commercial banking group in Hong Kong. With over 260 branches, more than 580 ATMs and other distribution channels in Hong Kong, BOCHK and its subsidiaries offer a comprehensive range of financial products and services to individual and corporate customers. BOCHK is one of the three note issuing banks in Hong Kong. In addition, the BOCHK Group (comprising BOCHK, Nanyang Commercial Bank and Chiyu Banking Corporation) and its subsidiaries have 41 branches and sub-branches in the Mainland of China to provide cross-border banking services to customers in Hong Kong and the Mainland. BOCHK is appointed by the People’s Bank of China as the Clearing Bank for Renminbi business in Hong Kong. On 13 July 2010, BOCHK was authorised as the Clearing Bank of RMB banknotes business for the Taiwan region.

    BOC Hong Kong (Holdings) Limited, BOCHK’s holding company, began trading on the main board of the Stock Exchange of Hong Kong on 25 July 2002, with stock code “2388” , ADR OTC Symbol “BHKLY”.

    About BOC Credit Card (International) Limited

    BOC Credit Card (International) Limited ( “BOC Credit Card” ) was established in 1980 and is a wholly-owned subsidiary of BOCHK. All credit cards issued by BOC Credit Card are collectively called BOC Credit Cards. BOC Credit Card has issued various international credit cards and revolving loan cards, and is now the card issuing and acquiring processing centre for BOCHK and its subsidiary banks (Nanyang Commercial Bank and Chiyu Banking Corporation), as well as other institutions and organisations. BOC Credit Card plays an important role in the credit card business in the Mainland of China, Hong Kong and Macau.

    BOC Credit Card provides a wide variety of products to serve different market needs. Its product family includes the Visa Infinite, Visa and MasterCard Platinum Card, Titanium Card, Gold Card, Classic Card, Business/Corporate Card, Purchasing Card, Co-branded Card (with over 20 co-branding corporations and organisations), Intown Virtual Credit Card, BOC CUP Dual Currency Credit Card and BOC Express Cash Card. It also took the lead in launching the UnionPay Card Payment Service in Hong Kong in January 2004.

    About UnionPay International

    UnionPay International is a subsidiary focusing on international business of UnionPay. Unionpay International defines Membership Scheme to be the basis for development of the worldwide UnionPay Card acceptance network; promotes the international issuance and usage of the UnionPay Card as well as other innovative payment solutions and enhance the international brand position of UnionPay. By cooperation with over 200 associations worldwide, the UnionPay international network has enabled the UnionPay Card acceptance in over 140 countries and regions to date. UnionPay cards have been issued in above 30 countries and regions. UnionPay International provides quality, efficient and secure cross-border payment services to the world’s largest cardholders group; and provides convenient and localized service to the increasing overseas UnionPay cardholders.


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