08 Aug 2014

Bank of China (Hong Kong) Limited ("BOCHK"), as the Clearing Bank of RMB business in Hong Kong, today announced that with effect from 1 October 2014, it will further extend the RMB clearing service hours. The Hong Kong RMB clearing system will offer services with the longest operating hours globally, and it is also the world's first clearing system to cover time zones in Europe, America and Asia. Through this new arrangement, it aims to provide more comprehensive cross-regional clearing services to overseas Participating Banks and Clearing Banks in other regions.

The new service runs 20.5 hours per day, on Monday to Friday, from 8:30 am to 5 am of the next day (Hong Kong time), extending RMB clearing services to cover the European and American trading hours with same-day value. In addition, this will be supported by BOCHK's 24-hour enquiry services. BOCHK will announce the details to the Participating Banks upon completion of its preparation work.

Mr Yang Ruhai, Head of RMB Business of BOCHK, said, "BOCHK's RMB clearing service hours will cover the trading periods of major countries and regions around the world, which will further facilitate the usage of RMB globally. As the sole Clearing Bank of RMB business in Hong Kong, BOCHK is committed to promoting and strengthening Hong Kong's position as the premium offshore RMB centre. It will proactively enrich its RMB clearing products and services, with the objective to provide the most efficient, convenient and comprehensive RMB clearing services to participating institutions around the world."

BOCHK currently provides services for more than 200 local and overseas Participating Banks. Its RMB clearing system offers the world's longest operating hours. It also has the largest transaction volume among offshore RMB clearing platforms, settling hundreds of billions of RMB every day.

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About Bank of China (Hong Kong) Limited

Bank of China (Hong Kong) Limited ("BOCHK"), established on 1 October 2001, is a leading listed commercial banking group in Hong Kong. With over 260 branches, more than 600 ATMs and other distribution channels in Hong Kong, BOCHK and its subsidiaries offer a comprehensive range of financial products and services to personal and corporate customers. BOCHK is one of the three note issuing banks in Hong Kong. In addition, the BOCHK Group (comprising BOCHK, Nanyang Commercial Bank and Chiyu Banking Corporation) and its subsidiaries have 43 branches and sub-branches in the Mainland of China to provide cross-border banking services to customers in Hong Kong and the Mainland. BOCHK is appointed by the People's Bank of China as the Clearing Bank for Renminbi business in Hong Kong, and is authorised as the Clearing Bank of RMB banknotes business for the Taiwan region.

BOC Hong Kong (Holdings) Limited, BOCHK's holding company, began trading on the main board of the Stock Exchange of Hong Kong on 25 July 2002, with stock code "2388", ADR OTC Symbol "BHKLY".



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