Pouso Alegre

Banco XCMG S.A. Completes First Foreign Exchange Settlement and Sale Transaction with Newly Gains Foreign Exchange License Approval in Brazil

Retrieved on: 
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.

XCMG's First Overseas Bank, Banco XCMG S.A., Seeks New Opportunities in Industry-Finance Integration

Retrieved on: 
Monday, January 13, 2020

The project was approved by the Central Bank of Brazil (Banco Central do Brasil, BCB), the principal monetary authority of Brazil in October 2019.

Key Points: 
  • The project was approved by the Central Bank of Brazil (Banco Central do Brasil, BCB), the principal monetary authority of Brazil in October 2019.
  • Banco XCMG S.A. is a breakthrough for XCMG to exploit the field of financial services and support the upstream and downstream of the supply chain in purchasing and sales and currently holds licenses for finance leasing, credit services and investment banking.
  • In POUSO ALEGRE,Brazil named XCMG's Pouso Industrial Park in Brazil as the fourth provincial-level overseas economic and trade zone of Jiangsu Province.
  • In Pouso Alegre, XCMG Brazil has created 424 job opportunities for the locals and will continue to play an active role in promoting Minas Gerais to Chinese companies.

Central Bank of Brazil (BCB) Approves XCMG's First Overseas Bank

Retrieved on: 
Monday, November 18, 2019

POUSO ALEGRE, Brazil, Nov. 18,2019 /PRNewswire/ -- Banco XCMG S.A.,XCMG's (SHE:000425) first wholly-owned overseas bank, is set to open in six months in Pouso Alegre, following approval from the Central Bank of Brazil (Banco Central do Brasil, BCB).

Key Points: 
  • POUSO ALEGRE, Brazil, Nov. 18,2019 /PRNewswire/ -- Banco XCMG S.A.,XCMG's (SHE:000425) first wholly-owned overseas bank, is set to open in six months in Pouso Alegre, following approval from the Central Bank of Brazil (Banco Central do Brasil, BCB).
  • Banco XCMG S.A. is the first overseas bank of the Chinese manufacturing industry and the first foreign participant bank to receive direct approval from the Central Bank of Brazil.
  • Banco XCMG S.A. will support XCMG's sales in the Brazilian market and offer financial products and services while aiding the development of XCMG's distribution network.
  • The primary financial services of the bank will focus on providing consumer credit, lease and financing services for XCMG's FINAME series.