Banco XCMG S.A. Completes First Foreign Exchange Settlement and Sale Transaction with Newly Gains Foreign Exchange License Approval in Brazil
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Thursday, July 29, 2021
Banco XCMG S.A., opened in July 2020 in Pouso Alegre, is the Chinese manufacturing industry's first overseas bank and the first Chinese-invested enterprise bank in Brazil.
Key Points:
- Banco XCMG S.A., opened in July 2020 in Pouso Alegre, is the Chinese manufacturing industry's first overseas bank and the first Chinese-invested enterprise bank in Brazil.
- Upon receiving the license, the bank will be able to save exchange costs for XCMG Brazil at more favorable exchange rates, which is of great significance to improve the overall operating efficiency of XCMG's two companies in Brazil.
- The foreign exchange license will expand Banco XCMG S.A.'s innovative service capabilities based on the real needs of customers.
- A top-three equipment leasing company in Brazil has already purchased 42 units of XCMG excavators through Banco XCMG S.A.