Bank of China (hk) to launch Renminbi fiduciary account scheme
Bank of China, in the capacity of the clearing bank for the banking business in the Chinese currency in Hong Kong, said Thursday in a statement that it would launch the Renminbi fiduciary account scheme for participating banks on April 8.
China will deepen the reform of its financial systems by improving services for small and micro businesses and making Renminbi convertible under capital accounts, according to a report distributed to the media Monday morning.