Bank of Communications recently obtained approval from the People's Bank of China to serve as the exclusive pilot bank for the China-Brazil Bond Connect (CBB Connect). The move marks a notable southward expansion of financial ties as cooperation among Global South countries deepens, and formally establishes a two-way connectivity mechanism between the bond markets of China and Brazil.

Bank of Communications is committed to building a safe, efficient, and convenient two-way investment ecosystem for global customers. Under the CBB Connect framework, domestic investors can access Brazil's bond market in an efficient and secure manner via Bank of Communications' asset custody and clearing services. Meanwhile, Brazilian and other international investors can enter China's bond market through Banco BOCOM BBM S.A., the bank's local subsidiary, to share in the opportunities brought by China's development.

CBB Connect builds an institutionalized "financial highway" for capital flows and financial cooperation between the two countries. By linking up with the financial market of a major emerging economy, it further strengthens Shanghai's position as a global capital hub. The initiative showcases fresh progress in the institutional opening-up of China's onshore financial market and marks another solid step for the financial sector in implementing the national strategy of high-level opening-up. It will strongly boost the development of Shanghai into a more competitive international financial center.

Leveraging the strong local presence and rich experience in asset custody of its Brazilian subsidiary, Bank of Communications will launch a unique integrated financial service chain between China and Brazil. In order to effectively meet the needs of investors, the chain will provide full-process, secure, and efficient services for cross-border investment covering account opening, trading, clearing, and custody. While supporting Brazilian investors in entering the Chinese market with quality services, Bank of Communications also encourages more domestic institutions to engage with Brazil, recognize its potential, and invest in the country.