China Bohai Bank seeks to become the first local joint stock lender to win a combined yuan and foreign currency derivatives license as part of a plan to trial new forwards, options and other products in the Tianjin area, Forbes reported. 'In future we hope that Bohai Bank, through the Binhai New Area special privileges, we might get some licenses to launch products in the renminbi capital markets to really help Chinese clients to fix and limit risk,' said Forbes, quoting the bank's executive board member Rolf Berweger in an interview. Berweger said China wants to develop the Binhai New Area of the northern port city as a center for financial innovation, with the State Council indicating in the past that it could allow the yuan to be traded more freely in the zone. China Bohai Bank last year became the first national joint stock bank to be launched in almost a decade. It counts Standard Chartered Bank as its second biggest investor, with the UK based lender holding a 19.99 percent interest.