Renminbi clearing banks are an important institutional arrangement to facilitate the international use of RMB. As the commercial bank with the longest history and the largest number of appointments as an RMB clearing bank designated by the People's Bank of China, Bank of China has, since its appointment as the world's first RMB clearing bank in 2003, continuously built and improved cross-border RMB clearing channels, cultivated market demand, provided high-quality RMB services, supported the expanded use of RMB in foreign trade and investment, and contributed to the development of the offshore RMB market. 

As of the end of July 2025, authorized by the People's Bank of China, BOC served as the RMB clearing bank in 16 countries and regions, including the Hong Kong, Macao, and Taiwan regions, Germany, France, Australia, Malaysia, Hungary, South Africa, Zambia, the United States, Japan, the Philippines, Cambodia, Serbia, and Mauritius, further enhancing the key network nodes that support the international use of RMB. 

Each RMB clearing bank actively fulfills its responsibilities, fully implements the outcomes of bilateral and multilateral cooperation, continuously strengthens policy communication and marketing promotion, and provides a full range of local financial services including RMB clearing and settlements, account and liquidity management, and investment and financing support. This contributes to the development of the off-shore RMB market and serves the broader goals of high-level opening-up, diplomacy, and foreign trade.