Renminbi Services help to capture more opportunities

In line with the growing business of Renminbi in Hong Kong, we are devoted to providing a comprehensive and reliable Renminbi services to meet the needs for designated commercial establishments*.

Features

Product Introduction

• Renminbi Saving Account
• Renminbi Time Deposit Account
• Renminbi Transfer Services
• Renminbi Exchange Services
• Renminbi Non-Deliverable Forward Contract

Renminbi Saving Account

• With a multi-currencies saving account, you can manage deposits in Renminbi and other foreign currencies
• Merchant's Renminbi notes can only be applicable to business related transactions including retail, catering, accommodation, transportation services, communications services, medical services and educational services, etc.)
• No minimum initial deposit is required for account opening
• Withdrawal of Renminbi notes is available
• Offer various channels for managing your Renminbi accounts, including internet banking, multi-media terminal machines, phone banking and any of our outlets
• Earn interest on your Renminbi account balance
• No pre-set balance limit for designated merchants in Hong Kong*

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Renmibi Time Deposit Account

• Fixed tenor of 7 days, 14 days, 1 month, 2 months, 3 months and 6 months
• The minimum deposit amount of HKD$10,000 equivalent is for the fixed tenor from 7 to 14 days
• The minimum deposit amount of HKD$1,000 equivalent is for the fixed tenor from 1 month to 6 months

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Renmibi Transfer Services

• Designated merchants in Hong Kong* can transfer Renmibi deposits from its account freely
• Renmibi transfer to other merchant's deposit accounts is not applicable

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Renmibi Exchange Services

• Designated merchants in Hong Kong* only allow to convert Renmibi to Hong Kong Dollars
• Exchange Hong Kong Dollars to Renmibi is not applicable
• Designated merchants in Hong Kong* must deposit Renmibi notes to designated accounts in order to make foreign exchange
• No maximum exchange amount

RMB Non-Deliverable Forward Contract

• It is a contract with no principal settlement
• Only need to settle the difference between the mutual agreed exchange rate and exchange rate at maturity
• Earn settlement currency time deposit interest rate, and may obtain return by buying or selling the NDF contract
• Buying and selling the NDF contract at a set exchange rate
• Fixed tenor of 1 month, 2 months, 3 months, 6 months and 12 months
• The minimum Notional Amount is USD10,000 (or equivalent) or its multiple

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* Designated merchants includes Hong Kong commercial establishment provide retail, catering, accommodation, transportation services, communications services, medical services and educational services (excluding money changers, property agents, stockbrokers and gambling establishments). The customers have had business relationship with the Bank for more than 3 years.