Standard Chartered among first banks in renminbi cross-border trade

The Standard Chartered Bank Hong Kong signed the agreement for the implementation of Renminbi cross-border trade settlement pilot scheme with Bank of China.

The deal made Standard Chartered HK one of the first overseas participating banks of the pilot scheme.

Renminbi trade settlement business facilitates convenience of cross-border trade activities which will further accelerate trade growth.

"By leveraging our advantage in the Renminbi product and service offering, we are confident that we will be able to extend and strengthen our suite of Renminbi products and services to best serve the corporates in the Greater China region," said Ben Hung, Chief Executive Officer and Executive Director of Standard Chartered Bank (Hong Kong) Limited.