BOC expands facilities in Xinjiang for Belt and Road opportunities

Currency facilities being offered to companies taking part in cross-border renminbi business in Xinjiang Uygur autonomous region are more favorable than in the China (Shanghai) Pilot Free Trade Zone, according to officials at Bank of China's operations in the area.

In an interview with China Daily, Liu Xinwei, deputy president of the bank's Ili Kazakh prefecture branch, said the lender has intensified its efforts at promoting the development of its cross-border renminbi business, as the country steps up the implementation of the Belt and Road Initiative.

With a global network of 635 branches in 42 countries, BOC provides overseas financing services to companies registered in the China-Kazakhstan Horgos International Border Cooperation Center in Horgos, a city in the Ili Kazakh prefecture.