BOC to purchase 10% stake in Portuguese investment bank

NetEase Finance November 15 News, according to The Sunday Times, in Portugal, rumors of debt, the Bank of China is said to be purchasing the country's third-largest bank, the Portuguese Investment Bank (BPI) 10% of the shares.　　In addition, the Millennium Bank (Millennium BCP), another Portuguese bank, is also communicating with Chinese financial institutions.　　In Tuesday, Reuters reported that top Chinese banks said they might consider taking stakes in the Portuguese Investment Bank (BPI) or its Angolan business BfR. 7th this month, BOC Deputy Governor Chen Shiqing on behalf of BOC and the BPI signed a cooperation agreement.　　Under the agreement, the two sides will deepen cooperation to build financial services platform for China's "Going global" enterprises, especially for Chinese enterprises in Portuguese and African Portuguese-speaking countries, overseas Chinese and local enterprises.　　The two sides will further strengthen cooperation in various areas such as RMB cross-border trade settlement, project financing, syndicated loan, fund management, international payment, letter of credit, documentary collection, Risk participation and forfaiting. Chinese banking overseas mergers and acquisitions are heating up.　　November 3, ICBC opened the Thai bank, the bank said it will be in the business of the ASEAN countries to find acquisitions opportunities. Yeu Yi, vice president of BOC, announced at the Beijing Gold Fair earlier this month that with the globalization of the economy and the internationalization of the renminbi, enterprises and residents ' "going out" process has been accelerating. Commercial banks must adhere to the local market, speed up the overseas market, to "go out" of the enterprise customer focus, to play the advantages of two markets at home and abroad.