2017年CRI Chinese bank's branch in Switzerland helps promote bilateral trade

 

The CCB's branch in Switzerland's largest city has been authorized¹ by China's central bank to conduct RMB clearing business.

This was one of the outcomes of the Sino-Swiss free trade agreement signed in 2013, which entered into force in 2014.

The bank is now looking to expand services as bilateral² investment has increased steadily³.

General Manager Gong Weiyun said the Swiss economy is remarkable⁴.

"For example, it boasts a high-end manufacturing, such as the well-known Swiss watches. It has a well-developed pharmaceutical⁵ industry, and some leading companies in the sector⁶ are located here. Besides, it is also impressive in terms of precious metals and bulk commodity trading," said Gong Weiyun.

Human resources manager Yanfen Oberholzer-Huang highlighted the importance of unity⁷ between Chinese and foreign employees.

"The aim of the CCB to open a branch in Zurich is to realize its localization. To that end, Western employees and Asian employees must communicate smoothly⁸ with each other, which is one of the important preconditions. We must work together toward a common goal," said Huang.

As the world's largest offshore⁹ financial center, Switzerland manages assets of nearly 5 trillion U.S. dollars with its unique financial system.

Zurich is home to over 100 international financial institutions.

Jurg Hobi, a senior account manager with CCB's Zurich Branch, said the bank attracted a group of local financial professionals to join in.

"It's the first Chinese bank in Switzerland. So it's the first experience you can have after 20 years with American banks and English banks to work for a Chinese bank. That has never happened before. For me, that's a complete new experience in a complete different environment," said Hobi.

Another Chinese national bank will also open an office in the country in 2017.

As of today, China's central bank has authorized another 4 RMB clearing banks in European cities such as London, Frankfurt, Paris and Luxembourg.

1 authorized   

a.委任的，许可的

参考例句：

• An administrative order is valid if authorized by a statute.如果一个行政命令得到一个法规的认可那么这个命令就是有效的。

2 bilateral   

adj.双方的，两边的，两侧的

参考例句：

• They have been negotiating a bilateral trade deal.他们一直在商谈一项双边贸易协定。
• There was a wide gap between the views of the two statesmen on the bilateral cooperation.对双方合作的问题，两位政治家各自所持的看法差距甚大。

3 steadily   

adv.稳定地；不变地；持续地

参考例句：

• The scope of man's use of natural resources will steadily grow.人类利用自然资源的广度将日益扩大。
• Our educational reform was steadily led onto the correct path.我们的教学改革慢慢上轨道了。

4 remarkable   

adj.显著的，异常的，非凡的，值得注意的

参考例句：

• She has made remarkable headway in her writing skills.她在写作技巧方面有了长足进步。
• These cars are remarkable for the quietness of their engines.这些汽车因发动机没有噪音而不同凡响。

5 pharmaceutical   

adj.药学的，药物的；药用的，药剂师的

参考例句：

• She has donated money to establish a pharmaceutical laboratory.她捐款成立了一个药剂实验室。
• We are engaged in a legal tussle with a large pharmaceutical company.我们正同一家大制药公司闹法律纠纷。

6 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

7 unity   

n.团结，联合，统一；和睦，协调

参考例句：

• When we speak of unity,we do not mean unprincipled peace.所谓团结，并非一团和气。
• We must strengthen our unity in the face of powerful enemies.大敌当前，我们必须加强团结。

8 smoothly   

adv.平滑地，顺利地，流利地，流畅地

参考例句：

• The workmen are very cooperative,so the work goes on smoothly.工人们十分合作，所以工作进展顺利。
• Just change one or two words and the sentence will read smoothly.这句话只要动一两个字就顺了。

9 offshore   

adj.海面的，吹向海面的；adv.向海面

参考例句：

• A big program of oil exploration has begun offshore.一个大规模的石油勘探计划正在近海展开。
• A gentle current carried them slowly offshore.和缓的潮流慢慢地把他们带离了海岸。