Payment news, July 13

Chinese companies select Deutsche Bank and BNY Mellon as their depository bank, while HSBC launches new renminbi internet services.

Chinese companies choose Deutsche Bank and BNY Mellon

Deutsche Bank has been appointed as depositary bank for the Nasdaq-listed American depositary receipt ADR programmes of two Chinese companies. The companies are HiSoft, a provider of outsourced information technology and research and development services and AutoNavi, which produces digital map content and navigation and location-based solutions in China.

We are pleased to be HiSoft's depositary bank of choice, said Akbar Poonawala, head of global equity services at Deutsche Bank, in a statement. This appointment underscores Deutsche Bank's commitment to the China.

Meanwhile, China New Borun Corporation, a China-based edible oil producer and distributor, has selected BNY Mellon...

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