Iran plans to open bank in China

Head of Iran-China Joint Chamber of Commerce Asadollah Asgar Oladi said Iran is likely to open a bank in China. "We were seeking establishment of the bank in China soon. But its establishment is now on the agenda," Asgar Oladi said, the Iranian students news agency reported. "Opening an Iranian bank in China and making investment in the country is in our agenda. Opening such a bank will facilitate commercial ties as well as fund transfer," he added. He further added Iran's non-oil exports to China have totaled $4.5mln over the first 8 months of the Iranian calendar year (March 21- November 20).