Multi-currency cross-border payment arrangements between Hong Kong and Mainland China
نویسنده
چکیده
The establishment of multi-currency cross-border payment arrangements between Hong Kong and the Mainland on 16 March 2009 marked an important step in strengthening co-operation on the development of the two economies’ financial infrastructure. The arrangements enable banks in both economies to make cross-border payments more efficiently with reduced settlement risks and costs. This article describes how this new payment service works and its benefits to banks and their customers. by the Financial Infrastructure Department
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