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China-Germany ties at a glance

chinadaily.com.cn | Updated: 2018-05-24 09:49
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Financial cooperation

File photo of the headquarters of People’s Bank of China in Beijing. [Photo/VCG]

Five major Chinese banks, including the Bank of China and the Agricultural Bank of China, have established 12 branches in Germany. The People’s Bank of China has also set up an office in Germany.

China decided to grant Germany an annual quota of 80 billion yuan ($12.6 billion) to invest on the Chinese mainland along with the status of Renminbi Qualified Foreign Institutional Investor (RQFII) during Merkel’s visit to China in July 2014.

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