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CCB Sets up Corporate Settlement Networks Nationwide
The China Construction Bank (CCB) announced Thursday that it has established 38 settlement networks for large enterprise groups nationwide.
A spokesman with the bank said that the CCB recently signed agreements with the Auqma Group, Handan Iron & Steel Group and the Henan Shuanghui Industry Company Ltd to provide them with credit, settlement and related banking services.
The CCB started to establish the settlement systems of corporate accounts in 1996. Since then it has established a nationwide settlement network that covers the bank's 28,000 local branches.
A number of key enterprise groups, including major air conditioning companies Chunlan Group and Hai'er Group, and the auto giant First Auto Works, have benefited from such a network by improving the efficiency of settlements.
Currently, the CCB's daily settlement amount of corporate accounts stand at around 400 million yuan, twice the figure of that before the network was established.
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