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.

J.P. Morgan has received approval to provide Renminbi (RMB) cross-border trade settlement services to China-based corporate clients as a domestic settlement bank through its locally incorporated bank.

SEB has received approval from People’s Bank of China to become a member of the national clearing system CNAPS, enabling the bank to offer a complete and more efficient cash management solution in China.

The new cross-border payment-versus-payment (PvP) link between Hong Kong’s US Dollar real time gross settlement (RTGS) system and Indonesia’s Rupiah RTGS system has been launched on 25 January 2010, according to the Hong Kong Monetary Authority (HKMA).

Euroclear Bank and the newly created Shanghai Clearing House have signed a Memorandum of Understanding (MoU) as the basis to build a close co-operative relationship.

China Foreign Exchange Trade System (CFETS) has successfully gone live with its inter-bank Renminbi currency trading platform provided by Tata Consultancy Services.

Bank of China Hong Kong (BOCHK) has signed agreements for clearing and settlement of Renminbi Trade Settlement with a number of commercial banks in ASEAN and other related regions and countries.

All corporate customers of the Industrial and Commercial Bank of China (ICBC) can now use the bank’s electronic bill service through the Electronic Commercial Draft System (ECDS) initiated by the People’s Bank of China.

Three Chinese banks have recently signed for Deutsche Bank’s FX4Cash platform to provide wholesale payment services to their corporate clients.

Clear2Pay announced at the opening day of Sibos 2009 that it is supplying technology to Bank of East Asia in China to launch its connectivity to the Chinese Central Bank’s nationwide Electronic Commercial Draft System.