Chinalco establishes corporate treasury center in Hong Kong.

According to a press release from the Hong Kong SAR Government, Invest Hong Kong announced today that Aluminum Corporation of China Limited has established a corporate treasury center in Hong Kong Chinalco Group Treasury Management Limited. Chinalco Treasury is the offshore fund management platform of Chinalco, and will be responsible for the group's centralized offshore fund management, offshore financing, foreign exchange and interest rate risk management, and integrated financial services. Director-General of Investment Promotion Alpha Lau said: "We welcome the establishment of Chinalco Treasury in Hong Kong. As the world's largest offshore RMB hub, Hong Kong can provide enterprises with RMB cross-border settlement, multi-currency fund management and risk hedging capabilities, and is promoting the broader use of RMB in financing and commodity pricing. Coupled with a simple tax regime and free flow of capital, Invest Hong Kong hopes that Chinalco will use the treasury center as a starting point to further develop commodity trading functions in Hong Kong, combining Hong Kong's pricing, settlement, financing and warehousing networks with its own industrial strengths to create mutually beneficial synergies."