On August 12, 2026, Bank of Shanghai officially launched direct Mexican Peso clearing services, extending its direct clearing network to Latin America for the first time to support Chinese‑funded enterprises to further develop the Latin American market. Prior to this, the bank had already completed its direct clearing services to Asian currencies including the Korean won and Thai baht.

Latin American economic and trade foundation to support corporate overseas expansion

In 2025, Mexico’s nominal GDP reached 1.83 trillion US Dollars, with manufacturing accounting for about 20%, mainly focusing on automobile manufacturing and electronic manufacturing. China is Mexico’s second‑largest trading partner, and Mexico is China’s second‑largest trading partner in Latin America. The total China‑Mexico trade volume reached 1093.76 billion US Dollars in 2025, among which China’s export volume stood at 891.60 billion US Dollars, ranking first among all Latin American countries.

Upgraded China‑Mexico economic and trade relations to deepen industrial capacity cooperation

China‑Mexico economic cooperation has been upgraded from traditional trade exchanges to in‑depth industrial capacity cooperation. At present, around 70% of China’s investment in Mexico flows into the manufacturing sector, concentrated in strategic industries including auto parts, New‑Energy Vehicles and Power Batteries. In response to the settlement demands of enterprises in automobile manufacturing, auto finance, freight logistics and other industries, Bank of Shanghai launched the direct Mexican Peso clearing service to ease enterprises’ cross‑border capital flow difficulties and reduce corporate financial costs.

Optimized exchange path for cost reduction, efficiency improvement and risk control

Compared with the cumbersome traditional “CNY‑USD‑MXN” channel, customers can open Peso accounts, conduct CNY/MXN foreign exchange settlement and sales, and complete direct Peso receipts and payments at Bank of Shanghai. By removing USD arbitrage procedures, exchange and intermediary bank fees are effectively cut. Shorter capital routing improves settlement efficiency from the previous T+2 to the fastest T+0 arrival.

Expand global currencies and improve clearing business layout

As Chinese‑funded enterprises extend their global business footprint to emerging markets, Bank of Shanghai keeps expanding its direct‑clearing currency portfolio. It covers major G10 currencies as well as core currencies of Southeast Asia, the Middle East and Latin America, maintaining a leading position among banks of comparable scale. At present, the bank supports direct clearing for 14 foreign currencies: US Dollar, Euro, Pound Sterling, Hong Kong Dollar, Japanese Yen, Singapore Dollar, Australian Dollar, New Zealand Dollar, Swiss Franc, Canadian Dollar, UAE Dirham, Korean Won, Thai Baht and Mexican Peso.

Enrich payment and receipt products to empower corporate global development

Customers can also use Bank of Shanghai’s “Multi‑Currency Payments & Receipts” product for minor‑currency remittances, supporting payments in more than 130 currencies and receipts in nearly 40 currencies. Going forward, Bank of Shanghai will continue to improve its multi‑currency cross‑border financial service system, launch more minor‑currency direct‑clearing services, and keep empowering enterprises’ global business development.

原文链接：

https://jrj.sh.gov.cn/YX180/20260812/c60db773c514487eadefc65bf7d9f45f.html