Bank of China, the state-owned bank, has bolstered its RMB asset trading operations with the opening of a second national headquarters in Shanghai.

The launch of the new office supports the city's goal of becoming a centre for yuan trading, pricing and clearing by 2015. Through Shanghai's 12th five-year plan, it hopes to become a global financial centre by 2020. 

The Pudong New Area office will be merged with its existing capital exchange and information centre in Shanghai and will offer RMB trading and cross-border RMB settlement. The bank's other main office is in Xicheng District, Beijing.

Bank of China provides a full range of financial services in the Mainland, Hong Kong, Macau and 31 other countries. In 2011, the bank recorded as much as RMB1.7 trillion ($269 billion) for its cross-border RMB clearance and settlement business.