Never heard it。It must be a bank set up for the specific purpose of trading with Iran。It has neither branch offices noir businesses other than in Iran。 So the Americans can do what they please。：-） China should create more companies with the mandate for doing business ONLY with and in Iran。Such companies will have nothing to do with the rest of the world, especially the western world, and being quasi monopolies，will enjoy fat profit margins。
China, unlike what the US would like to believe, is no longer as dependent on its exports as it used to be till just a decade ago!
The Chinese domestic market, driven by widespread human development and industrial development (which have been very very inclusive unlike the developments that have been taking place in certain other countries), has grown in leaps and bounds in the past decade. So much so, that the Chinese domestic market is now worth about 58 % of China's GNP. This figure was a mere 32 % a decade ago (when the Chinese economy was roaring aloud on the back of a tremendous export boom).
At the rate at which foreign demand is being replaced with domestic demand, China will soon reach the optimum level of dependence on exports whereby a sudden and very sharp drop in external demand cannot unsettle its economy in any serious fashion.
On the contrary, the US is hugely enslaved to Chinese investments and must depend on it to keep its currency afloat and to keep its borrowings based model of running its economy intact!
China just needs to give that slight twist on America's arm for the latter to come hurriedly back to behaving!
