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HSBC, Stanchart, BOCHK Participate in Phase 2 of RMB Business Facility
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The Hong Kong Monetary Authority (HKMA) announced today (29th) the expanded list of 40 participating banks starting from Phase 2 of the RMB Business Facility (RBF), with the total quota allocated to participating banks increased to RMB100 billion, from RMB50 billion in the previous phase. Standard Chartered Hong Kong said that, since Phase 2 took effect on 1 December, it has provided more competitive CNH loans to corporate clients from various industries through the allocated funding quota. The initial participating clients include Cheongfuli (Hong Kong) Company, Limited, a subsidiary of supply chain operator Xiamen C&D, etc.. HSBC has taken the lead in utilizing the quota to provide RMB1.4 billion in operating capital loans to a subsidiary of a Chinese listed company involved in overseas markets, HSBC stated. BOC HONG KONG (02388.HK) continued to promote the application of e-CNY in cross-border scenarios, facilitating regional financial mutual market access, BOC HONG KONG indicated. AASTOCKS Financial News Website: www.aastocks.com |
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