BEA gains RMB permission
NEWS
In a further sign that the Chinese authorities are liberalising the currency regime, the branch becomes BEA’s eighth in China with the permission to offer RMB-denominated banking services to its clients. Approval was granted to BEA under the Closer Economic Partnership Arrangement (Cepa), which Hong Kong and China have signed. BEA becomes the first Hong Kong-based bank to receive approval through Cepa.
BEA’s Beijing branch will now be able to provide RMB services to local enterprises, foreign
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