On the 11th, the reporter learned from Industrial and Commercial Bank of China (Brazil) Co., Ltd. (hereinafter referred to as "ICBC Brazil") that ICBC Brazil has successfully processed its first cross-border RMB settlement business, marking substantial progress in the bank's cross-border RMB business in the Brazilian market. In February of this year, the People's Bank of China authorized ICBC Brazil to serve as the RMB clearing bank within Brazil. In this business, ICBC Brazil supports both trading parties to successfully achieve direct settlement using RMB. This business shows significant advantages in terms of clearing efficiency, exchange costs, and security of capital flow and information flow. The person in charge of ICBC in Brazil said that the bank would continue to actively play its advantages as a Brazilian RMB clearing bank in the future, strive to provide convenient, efficient and safe cross-border RMB settlement services for enterprises in both countries, and promote China Brazil economic and trade cooperation to a new level. In recent years, China Pakistan's economic and trade exchanges have become increasingly close, and the amount of cooperation has continued to grow. The successful implementation of this cross-border RMB settlement business marks that Chinese and Pakistani enterprises have more currency options in trade transactions, which helps to increase the proportion of RMB in China Pakistan trade and investment, and injects new vitality into China Pakistan economic and financial cooperation. (New News Agency)