During the financial crisis several of China'srnbiggest banks unobtrusively opened swanky offices in Manhattan. Today their timing looks especially prescient. They're ideally positioned to establish an important frontier for Beijing in its bid to internationalize the renminbi, on its terms.rnChina's second-largest bank, China Construction Bank Corp., has conducted more than $200 million worth of renminbi trade-financin and settlement transactions in New York (technically, the settlements take place in China) sincernJune, reports John Weinshank, head of trade finance and corporate banking for CCB in New York.
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