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RMB Trade Settlement Meeting in Guangzhou - Review

21 Jul 2010


Further to the previous visit to representatives of Guangdong CBRC and the Banking Association of Guangdong by the TMA in March, a follow-up meeting on RMB trade settlement with Guangdong banks was held on 16 July 2010 in Guangzhou.


On behalf of the TMA, Mr Wilson Chan, Executive Board Member of the TMA, and Mr Stephen Ng, Chief Operations Officer of the TMA, led this delegation to Guangzhou. Around 30 participants attended the meeting, including Mr Fan Lin Chun, Deputy Director of the People’s Bank of China Guangzhou Branch, Mr Zhou Hong, Secretary-General of the Banking Association of Guangdong, Mr Edward Xu, Deputy Director of CBRC Guangdong Office, and other representatives from banks such as HongKong and Shanghai Banking Corporation Limited, Hang Seng Bank Limited, Bank of Tokyo-Mitsubishi UFJ Limited, Hong Leong Bank Berhad, Bank of China Guangzhou branch, Australia and New Zealand Banking Group Limited Guangzhou branch, Bank of Communications Co., Limited Guangdong Branch, China Construction Bank Corporation Guangdong Branch, China CITI Bank Guangzhou Branch and Hong Kong Trade and Development Council.


Different views and issues on cross-border RMB trade settlement were thoroughly exchanged and discussed. Although some questions remained unresolved, most participants from Hong Kong and Guangdong found this meeting very meaningful and practicable.



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