News

China’s central bank announced on Monday that it has authorized the Bank of China (BOC) Phnom Penh Branch to be the clearing bank for renminbi (RMB) business in Cambodia. ...

With trade and investment between Cambodia and China steadily increasing, Chinese currency-backed settlements for cross-border commerce have sharply taken off as the Kingdom continues to deepen its economic dependency on the northern giant, a central bank official said yesterday. ...

Bank of China, one of the five biggest state-owned commercial banks in China, will expand its operations in Cambodia by opening new branches in Siem Reap and Sihanoukville, a local bank executive said yesterday. ...

Cambodia’s banking sector has continued enjoying robust growth in both loans and deposits this year, Ouk Maly, vice-governor of the National Bank of Cambodia, said Wednesday. ...

Human rights groups on Sunday criticized as inadequate a government proposal, announced on Friday, to require single women to deposit $10,000 into a Chinese bank before they are allowed to visit China as tourists, a move meant to curb the trafficking of Cambodian woman to ...

Chinese firm Huaxin Cement Co has purchased a 40 per cent stake in Cambodia Cement Chakrey Ting Factory Co, a cement-making factory currently under construction in Kampot province. Huaxin’s $24 million investment Cambodia Cement lifted the local factory’s working capital to $60 million, up from $32 ...

The government-backed Rural Development Bank (RDB) will lend $64 million to Cambodia’s agriculture sector in 2014, the bank’s top official said yesterday. Sun Kunthor, president of RDB, said most of the funding would be used to support growth in Cambodia’s rice sector as it strives to ...

As trade activity between Cambodia and China intensifies, banks are seeing an increase in deals transacted in yuan, the Chinese currency. Operating in Cambodia since 2010, Bank of China’s Phnom Penh Branch has been trying to promote business transactions in yuan, and has seen a significant ...

Trade volume between Cambodia and China was valued at $1.79 billion in the first four months this year, a 42 per cent increase compared to the  same period last year, according to the Chinese embassy in Cambodia. In 2012, bilateral trade between the countries reached about ...

Having seen rapid growth since launching in Cambodia two years ago, the Bank of China (BoC) plans to expand its business operations here. According to a Xinhua report, BoC’s deputy governor Zhu Shuming said during his visit to Cambodia last Friday that its local operations have ...

The Bank of China is going to expand its business operations in Cambodia after it was launched here two years ago and seen rapid business growth, Zhu Shuming, visiting deputy governor of Bank of China, said Friday. Speaking at a meeting with Chea Chanto, governor of ...

Maybank, one of the largest banks in Cambodia, has officially launched an internet banking service to provide a convenient service to its more than 10,000 customers and says it hopes to increase that number by around 10 per cent. The service, called M2U, will enable customers ...

Due to the expansion of economic and business activities between Cambodia and China, since early August the Bank of China has been negotiation with National Bank of Cambodia (NBC) on the promotion of business transactions in Chinese yuan. It is part of a larger but quiet ...

Bank of China is in negotiations with Cambodia’s central bank on the promotion of business transactions in Chinese yuan. The official talks reflect rapid trade growth between the two countries at a time when several commercial banks in Cambodia have launched yuan remittance and trade-settlement products. The ...

Cambodian officials say the country’s economic growth rate is set to exceed seven percent this year. According to financial analysts even if the global economy slows, Cambodia is well prepared to deal with it, partly because of strong foreign investment. But the billions of dollars ...