BOCHK, BCA sign agreement

BOCHK expands business of its RMB services by tapping Indonesian bank BCA.

According to a report in Trading Markets, Bank of China Hong Kong has signed an agreement for clearing and settlement of renminbi trade settlement business with Bank Central Asia.

Bank Central Asia will act as one of the direct participants for RMB real time gross settlement. In addition to providing a range of RMB services like deposits, foreign exchanges, remittances and trade finance, BCA will be able to participate in the RMB interbank money market in Hong Kong.

Gao Yingxin, executive director and deputy chief executive of Bank of China Hong Kong, said: "We are pleased that BCA has become the first Indonesia-based Participating Bank. Being the sole RMB clearing bank in Hong Kong, BOCHK enjoys unique edges in trade settlement between the Mainland and Hong Kong. We believe that BCA and other Participating Banks can take advantage of our comprehensive, professional and quality RMB trade settlement services."

Follow the link for more news on

Also Read

Deutsche Bank appointed by Euroclear as cash settlement and forex bank in Korea

PH central bank revokes license of local money changer

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit