RMB Trade Settlement scheme launched in Hong Kong since June 2010.
Using Hong Kong company and Hong Kong business bank account can enjoy below :
RMB cash withdraw - RMB cash withdraw is possible at HK branch;
- No maximum limit for cash withdraw in person;
Send & receive RMB remittance - Can receive RMB directly in business account;
- Can transfer RMB from Hong Kong business account to Hong Kong personal account;
RMB investment - Can use the RMB maintained in the account to purchase RMB related investment products;
Business nature and nationality - All nationality and business nature can enjoy RMB services;
Restriction - RMB transfer
- RMB cannot transfer from Hong Kong personal account to Hong Kong business account;
- RMB transfer between Hong Kong personal account should under same account owner.
- RMB purchase
- Cannot handle RMB purchase via internet banking;
- RMB only can purchase at branch and need pay handling fee;
Hong Kong HSBC handling fee - Below RMB 12,000 - handling fee RMB 15;
- Above and equal RMB 12,000 - handing fee 0.125% on total deposit amount;