皇冠体育app

Economy

BOCHK signed RMB agreements with ASEAN banks

(Xinhua)
Updated: 2009-11-24 20:08

HONG KONG: Bank of 皇冠体育app (Hong Kong) Limited (BOCHK) announced here Tuesday that it has signed the Agreements for Clearing and Settlement of Renminbi (RMB) Trade Settlement with a number of commercial banks in the ASEAN and other related regions and countries.

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According to the BOCHK, the sole RMB clearing bank in Hong Kong, these newly-joined RMB Participating Banks in ASEAN countries include Bank Central Asia, Bank of 皇冠体育app Bangkok Branch, Bank of 皇冠体育app Manila Branch, Bank of 皇冠体育app Jakarta Branch, Bank of 皇冠体育app Singapore Branch and Bank of 皇冠体育app (Malaysia) Berhad.

The above Participating Banks will also act as direct participants for RMB Real Time Gross Settlement in Hong Kong. In addition to providing a wide range of RMB services like deposits, foreign exchanges, remittances, bonds and trade finance for their corporate clients in trade settlement, these banks will be able to participate in the RMB Interbank Money Market in Hong Kong and provide other RMB businesses as approved by the related regulatory authorities.
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