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PBoC Governor Pan Gongsheng Meets with DBS Group Chief Executive Officer Chew Choon Shearn
People’s Financial News, March 24 — On March 22, People’s Bank of China Governor Pan Gongsheng met with Singapore’s DBS Group CEO Chen Shushan to discuss DBS Group’s operations in China and deepen financial cooperation. During the meeting, Governor Pan witnessed the signing of the RMB business clearing agreement. After receiving authorization from the People’s Bank of China, DBS Group will serve as China’s second RMB clearing bank and become the first local Singaporean bank to hold this role. The clearing bank cooperation will provide more convenient RMB clearing services and options for bilateral trade and economic cooperation between the two countries, further promoting bilateral trade and investment facilitation between China and Singapore.