HSBC Hong Kong has joined China’s international payments system as a direct participant, giving the world’s biggest player in trade finance a key role in Beijing’s push to expand use of the renminbi.
The bank’s Hong Kong unit is “formally joining” China’s Cross-Border Interbank Payment System, known as Cips, David Liao, co-chief executive of the bank’s business in the Chinese territory, told a conference in Beijing, where he said the dominant role of the US dollar was being “diluted”.
The move will make it easier for overseas companies to trade and invest using China’s currency by making those payments faster and cheaper.
您已閱讀13%(627字),剩餘87%(4097字)包含更多重要資訊,訂閱以繼續探索完整內容,並享受更多專屬服務。