Bank of China Ltd (03988.HK; 601988.SH) launched a cross-border e-commerce payment and settlement product on Wednesday in Guangzhou, provincial capital of south China's Guangdong.
The product provides online payment service to customers shopping on overseas e-commerce websites. For cross-border e-commerce importers and third-party payment firms, the product offers a wide range of services including online RMB payment, ledger accounting and settlement of cross-border capital movement, and anti-money laundering.
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