OREANDA-NEWS. October 18, 2011. 2011 Sibos annual conference was opened. Being one of the contributing banks, ICBC participated in the announcement ceremony of "White Paper - RMB Internationalization: Implications for the Global Financial Industry", reported the press centre of ICBC.

The RMB has gained increasing market acceptance as a settlement currency across the border, yet the extent and related financial services are major concern in the global financial industry. SWIFT is an international organization providing communication and payment services to the financial institutions around the world.

It is the intention of SWIFT to play an active role in RMB internationalization. In June this year, SWIFT invited 6 banks to study the topic "RMB Internationalization: Implications for the Global Financial Industry". Major RMB clearing banks were gathered to look into this topic from different dimensions. ICBC was one of the banks invited. SWIFT put together the analysis in a White Paper and announced in this year's Sibos conference. At the ceremony, all contributing banks signed on the cover of the White Paper.