US investors get a new RMB option as China Merchants launches CDs

usa 230x
By Carrie Hong
21 Nov 2014

China Merchants Bank’s (CMB) New York branch has launched the first renminbi denominated certificate of deposit (CD) in the US from its new global CD programme. Proceeds of the Rmb50m ($8.16m) one month offering will be used to support transactions in the US-China trade corridor.

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