
HKGX appoints China CITIC Bank as settlement bank
The bank will provide HKGX services such as account opening for its members.
The Hong Kong Gold Exchange (HKGX) has signed a memorandum of understanding appointing China CITIC Bank International Limited (CNCBI) as its settlement bank.
At this initial stage of collaboration, CNCBI will provide the HKGX services, such as account opening for its members in addition to HKD, USD, and RMB settlement.
Other services will follow, including member registration fee collection, financing solutions, real-time forex quotes, and offshore RMB settlement transactions.