Bank of China (Hong Kong) (BOCHK) is authorized as the Clearing Bank of RMB cash notes business for Taiwan, according to an agreement between the People’s Bank of China (PBoC) and BOCHK.

BOCHK was appointed as the Clearing Bank of RMB banking business in Hong Kong by the PBoC on 24 December, 2003.

In line with the steady expansion and development of RMB service, the operation has been running smoothly, providing comprehensive and efficient clearing services for all the participating banks. As a listed commercial bank with solid foundation and strong franchise, BOCHK enjoys various distinctive edges, including proven track record of RMB business and foreign currency notes delivery across the border for years. Furthermore, it has solid experience in handling the clearing business between Hong Kong and the Mainland of China, with an efficient cross-border clearing system and strong contingency backup capabilities. What is more, it has extensive connection in the Mainland and the largest branch network in Hong Kong, as well as sound knowledge in the financial policies and regulations of both markets. All these contribute to BOCHK’s success in its role as the RMB Clearing Bank, providing a strong base for its offer of quality RMB service.

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