Zhejiang Chouzhou Commercial Bank

Zhejiang Chouzhou Commercial Bank is an urban commercial bank headquartered in the international trade city of Yiwu, Zhejiang Province, China. The bank also sponsors the Zhejiang [Golden Bulls] professional basketball team.

History

Established in 1987 as the Yiwu Chouzhou Credit Cooperative, it transitioned into a joint-stock company in 2005 and was formally renamed Zhejiang Chouzhou Commercial Bank in 2006.
As of 2024, the bank reported total assets of approximately RMB 340 billion and operated 276 branches and rural outlets. It provides financial services primarily to small and medium enterprises in the Yangtze [River Delta Economic Zone] and, in 2023, established the China-Africa Cross-Border RMB Settlement Center in Yiwu to enhance RMB-based trade settlement with African markets.

China–Africa Cross-Border RMB Settlement Center

In May 2023, Zhejiang Chouzhou Commercial Bank established the China–Africa Cross-Border Renminbi Settlement Center in Yiwu. The center aims to expand the use of the Renminbi in China–Africa trade, reducing reliance on the United States dollar and decreasing exchange rate risks and costs for traders. The settlement center provides banking services specifically tailored to African merchants in Yiwu, facilitating direct RMB settlements, foreign currency exchange, and trade financing.