financing in China has maintained a sound growth momentum despite a
challenging global trade environment in the past two years, according to
a report from the China Banking Association.
2019, the business volume of international settlement at Chinese
commercial banks totaled 6.89 trillion U.S. dollars, a slight decrease
from the 2018 level, the report showed.
factors for the development of the country's trade financing business
include progress in the Belt and Road construction, the development of
pilot free trade zones, the integration of the Yangtze River Delta, the
coordinated development of the Beijing-Tianjin-Hebei Region, the
construction of Guangdong-Hong Kong-Macao Greater Bay Area and the
internationalization of the yuan, it said.
report also noted that with further tightening of regulations, Chinese
commercial banks are witnessing rising pressure from compliance risks
it warned that commercial banks should enhance risk prevention in
cross-border businesses amid strong global efforts against