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Product Name
RMB Cross-border Trade Settlement
Product Description
According to RMB cross-border trade settlement pilot scheme promoted by People's Bank of China and its rules and related regulations, Bank of China Ltd London Branch provides various types of cross-border RMB products and RMB trade finance products, such as Letters of Credit, Documentary Collection, Telegraphic Transfer, Letter of Guarantee and so on. And all the existing international settlement and trade finance products of Bank of China Ltd London Branch are applicable to RMB cross-border trade settlement.
Product Features
1. New currency option of pricing and settlement for import/export customers
2. Reduces the foreign exchange risk
3. Helps enterprises to expand into the Chinese market
Eligible Applicants
For any Import & Export enterprise which has RMB cross-border trade settlement requirements
Application Procedures
1. Open RMB Current Account with Bank of China Ltd London Branch before RMB Cross-border Trade Settlement application
2. Hand in the RMB Cross-border Trade Settlement application to Bank of China Ltd London Branch
3. Provide relevant documents i.e. RMB Invoice, Contract and other relevant documents for international settlement and trade finance to Bank of China Ltd London Branch
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