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Shanghai Daily News Digest

BRICS bank's HQ set up in Shanghai   2016-02-29

 

 

CHINA and the BRICS New Development Bank signed documents regarding the bank's headquarters in Shanghai on Saturday, marking the completion of the legal procedures before the operation of the bank.

Chinese Foreign Minister Wang Yi and bank's President K.V. Kamath signed an agreement while Shanghai Mayor Yang Xiong and Kamath signed a Memorandum of Understanding for the headquarters of the bank in Shanghai.

The documents govern the setting up of the bank's headquarters in Shanghai and provide for the immunities, privileges and other facilities to be accorded to the bank.

 


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