Recently, the 13th China-ASEAN Financial Cooperation and Development Leaders Forum was held in Nanning, Guangxi. At the forum, Guangxi Branch of Bank of China officially launched the cross-border RMB “3+3+1” strategic cooperation with BOC Hong Kong and commercial banks of ASEAN countries.

It is understood that Guangxi Branch of Bank of China takes advantage of the traditional foreign exchange advantages of cross-border payment, local and foreign currency clearing and global network of state-owned banks, and builds a “3+3+1” mechanism of direct cooperation with three commercial banks in ASEAN countries and three ASEAN institutions of Bank of China, facing ASEAN, fully serving the national “Belt and Road” initiative and helping the internationalization of RMB.