Agent Settlement of Balances in RMB

[Product Definition]

As adomestic agency bank, we open RMB accounts for overseas commercial banks  and provide RMB payment service on cross-border trade. CMBC Shanghai branch is the nominated account bankfor cross-border trade RMB clearings. The RMB account is used for RMB settlement business in Shanghai for all participant banks.

[Applicable Scope]

Applicants who apply for opening  RMB current account should be overseas commercial banks  which have been incorporated according to law .

[Product Advantages]

The service price is competitive, top quality and efficient.

[Procedures]

The overseas participant bank needs to provide the following documents when applying. We need to ensure authenticity, completeness and compliance of such documents.
1.Registration document of its home country or region or the approval letter issued by the regulator of its home country;
2.Valid identification certificates signed by legal representatives or designated persons;
3.Financial statements of the previous year;
4.Signature sample of authorized persons;
5.Duly signed questionnaire on money-laundering of the Bank;
6.Other papers or evidence deemed necessary as per relevant laws, PBOC or company rules.

We open RMB current accounts for overseas customers and sign an agency settlement agreement with them.
When the account becomes active, it can only be used for cross-border RMB settlement.

Energy Efficiency and Emission Reduction Program
The World Bank China Energy Efficiency Financing Program