China Construction Bank and China Europe International Exchange Sign Memorandum of Understanding (MoU) and launch Commerzbank CCBI RQFII Money Market UCITS ETF


(Oct 30, 2015, Hefei, Anhui, China) Chinese Premier Li Keqiang and German Chancellor Angela Merkel witnessed the signing of the MoU between  China Construction Bank (CCB) and China Europe International Exchange (CEINEX).  According to the MoU, both parties would endeavour to launch RMB denominated securities in Europe.  The President of China Construction Bank Corporation Wang Zuji and the CEO of Deutsche B?rse Group Carsten Kengeter attended the ceremony.   

CEINEX, a Sino-German joint venture, with the Shanghai Stock Exchange, the China Financial Futures Exchange and the Deutsche B?rse Group holding 40%, 20% and 40% of the shares of the company respectively, provides offshore RMB listing and trading services.  Established in Frankfurt, the trading hours of CEINEX cover the European trading time zone, Asia’s evening trading session and America’s morning trading session. 

CCB and CEINEX agreed to cooperate with each other to promote the offshore RMB denominated securities products issuing and listing on CEINEX, allowing European investors to easily invest in RMB-denominated stocks bonds, funds and derivatives products.  The parties agreed to meet investor demand for offshore RMB financing and investment, and to promote the internationalization of RMB.  CCB International (a subsidiary of CCB) will launch its Commerzbank CCBI RQFII Money Market ETF as the first batch of products listing on CEINEX.  

In recent years, CCB via its subsidiary CCB International which through its licensed subsidiary have endeavoured to build a 24-hour trading platform for RMB products. CCB International launched the first RMB-denominated and traded money market ETF in London in March this year, and listed the product in Euronext Paris in June.  The listing of this ETF product on China Europe International Exchange will accomplish the deployment of the RMB trading platform in European time zone. CCB International will continue to issue a series of RMB denominated investment products in the near future, so as to fulfil the needs of European investors to use and invest in RMB, and to meet  the national strategy of  the RMB internationalization and the “belt and road” Initiative.

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