BEIJING, July 20 -- Ningxia SRP Group and Bank of China Ningxia Branch have signed a strategic cooperation agreement to develop Sino-Arab cross border e-commerce in the Ningxia Hui Autonomous Region.
According to the agreement, Ningxia SRP Group is committed to providing financial services for domestic e-commerce trade while Dubai International Financial Center (DIFC) will serve for merchants and consumers outside China.
Bank of China Ningxia Branch will be responsible for overseas RMB payment, real-time currency exchanges and reducing exchange rate risks and settlement costs.
The agreement aims at adding a new channel for Sino-Arab cross border trade and hails Ningxia as the new start of Sino-Arab e-commerce cooperation.
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