Bank of China, the country's third-largest lender, said on Thursday that it has signed a Memorandum of Understanding with NYSE Euronext to jointly develop yuan-denominated products.

"The signing of the MOU marks a new starting point for the overall cooperation between Bank of China and NYSE Euronext," Yue Yi, executive vice-president of BOC, said in a statement posted on the lender's website.

BOC will endeavor to provide quality and efficient financial services for global clients by deepening cooperation with NYSE Euronext, the statement cited Yue as saying.

Dominique Cerutti, president and deputy chief executive officer at NYSE Euronext, said its partnership with BOC will help its clients and investors explore the Asian market.

China Daily-Agencies