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BNY Mellon’s Shanghai branch awarded RMB license by CBRC

BNY Mellon has announced that the China Banking Regulatory Commission (CBRC) has granted it a license to conduct local currency business in Shanghai. The company’s Shanghai branch will begin offering renminbi (RMB) foreign exchange and money market services from April 2011.  The new trading floor in Shanghai will be managed by Bing Cheng, managing director and head of global markets…

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