Renminbi trade settlement available at all HSBC China branches
HSBC China has expanded the availability of renminbi cross-border trade settlement services to all of its branches in the country. The bank currently has 109 outlets including 24 branches and 85 sub-branches across 24 cities.
“As trade between China and the rest of the world grows, many Chinese businesses will offer incentives to those who are willing to settle in renminbi,” said Noel Quinn, Asia-Pacific regional head of commercial banking at HSBC. “Taking advantage of this new and exciting development is key for international businesses who want to benefit from China’s trade growth.”