Deputy Governor of the Postal Savings Bank of China (PSBC) Xu Xueming signed an agreement on October 31 with J.P. Morgan's Managing Director for Asia Shaun Parkes at a ceremony in Beijing.
The agreement covers business cooperation in overseas account management, fund settlement and accounting. As custodian of Qualified Domestic Institutional Investor products, PSBC will entrust J.P. Morgan as its sub custodian, taking a solid step toward its goal of becoming a global investor. The move will further enhance PSBC's professional service capability and competitive advantages, said officials at the bank.
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