Bank of China announced the establishment of the Commodity Business Centre in London on Thursday.

 

"The establishment of the Bank of China Commodity Business Centre in London is a significant step in the development of the Chinese national strategy, an important step in the execution of BOC's international strategy, and represents further steady progress of our commodities business global layout after the establishment of the Singapore and Shanghai Centre's," Yue Yi, the executive vice president of Bank of China, said.

 

China has become the world's biggest buyer of commodities, many Chinese state-owned and private enterprises have become active participants in international commodity trading.

 

Bank of China plans to set up commodity business centre in Shanghai, Singapore, London and New York to manage its commodity business globally.

 

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