Bank of China (Hong Kong) Limited ("BOCHK") announced today that the daily service time of its RMB clearing system would extend to 20.5 hours since October 1, so as to cover the trading sessions of all major countries and regions, making it the system that offers the longest service time worldwide.
The new service time is from 8:30 am to 5:00 am the following day from Monday to Friday (Beijing Time), so that overseas participating banks and the clearing banks in other regions can access more comprehensive cross-regional clearing services. The 20-hour-strong continuous run time of the clearing system will offer more all-round intraday RMB clearing services during the trading hours in European and American markets. In line with the launch of the service, BOCHK will provide 24-hour enquiry service to all the participating banks.
As a wholly-owned subsidiary of Bank of China, BOCHK has the largest offshore RMB clearing platform by trading volume, with daily clearing volume hitting several hundred billion yuan. As the only RMB clearing bank in Hong Kong, it is committed to boosting and consolidating Hong Kong's position as a major offshore RMB center, actively diversifying RMB clearing products and services, and providing efficient, convenient and all-round RMB clearing services to all participating institutions worldwide.
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