ZURICH, Sept 15 Local-government owned Swiss
bank Zuercher Kantonalbank signed a renminbi clearing agreement
with China Construction Bank's Zurich branch, the
banks said on Thursday.
"We have made very good progress in our first year in
Switzerland," David Weiyun Gong, general manager of CCB in
Zurich, said in a statement. "The partnership with Zuercher
Kantonalbank underscores the performance of our platform for the
State-owned CCB received a Swiss banking licence last
Switzerland's central bank last year agreed with the
People's Bank of China (PBOC) to establish clearing arrangements
in Switzerland for renminbi trading and extend a pilot scheme
for clients of Swiss banks.
(Reporting by Joshua Franklin)