Hong Kong, China, July 6 (Xinhua) Hongkong Bank, China, this morning handled the first Hong Kong cross-border trade renminbi settlement business, marking the official launch of the business in the territory. The first Cross-border trade renminbi settlement business is Shanghai Electric Group's company. In the Bank of China in Hong Kong to handle the first single business interview, said that can become the first single business person is very happy, through the renminbi settlement can reduce exchange costs, avoid exchange rate risk, but it did not disclose the first remittance amount today. The Bank of China and Hong Kong said that the volume of trade between the mainland and Hong Kong in 2003 was over HK $1.5 trillion, and in 2008 it increased to more than HK $2.78 trillion and grew by more than 12% in six. Open Cross-border trade renminbi settlement can make customers a choice, can also avoid exchange rate fluctuations on the impact of enterprises, to help enterprises lock costs, the two trade markets will have a catalytic role. Hong Kong's Financial Secretary, Mr John Tsang, also pointed out that Hong Kong's trade with the mainland is substantial, and the volume of bank business will increase substantially after the Cross-border trade renminbi settlement business. As the only clearing bank in Hong Kong for the Cross-border trade renminbi settlement business, BOC Hongkong will launch a series of renminbi trade settlement and financing services, and will take the lead in dealing with RMB trade settlement with Shanghai, Shenzhen, Guangzhou, Dongguan and Zhuhai. The departure of the Cross-border trade renminbi settlement business marks a significant step forward in Hong Kong to the Renminbi Offshore settlement centre, which will have a positive impact on the internationalization of the renminbi. Industry insiders said that with the support of real trade demand, the estimated flow of renminbi and total deposits in Hong Kong would increase. Finish）
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