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HSBC, Standard Chartered among 24 Hong Kong lenders to get funds from yuan trade facility

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HSBC, Standard Chartered among 24 Hong Kong lenders to get funds from yuan trade facility - SCMP

Quick Summary:

We plan to proceed to the next phase of quota allocation around the middle of this year: HKMA.

HSBC, the city’s largest commercial bank, said it had already arranged several trade-finance transactions for corporate clients, who have reacted positively to the availability of yuan-denominated settlement.“This new facility will help unlock new growth opportunities for businesses, and we look forward to delivering competitive trade financing solutions tailored to our clients’ evolving needs,” said Luanne Lim, CEO of HSBC Hong Kong, in a statement.

HSBC Holdings, Standard Chartered Bank and Bank of China (Hong Kong) were among a group of 24 lenders to receive half of the funds from the 100 billion yuan (US$13.8 billion) trade-financing facility launched on Friday, according to the Hong Kong Monetary Authority (HKMA).

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-28 @ 16:31:45 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 200 words

Reading Time: 2 minutes read

Sentences: 3 lines

Sentence Length: 67 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 26506981

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About SCMP

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Main Topics: Business

Official Website: scmp.com

Update Frequency: 10 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 5 hours ago

Coverage Areas: Hong Kong

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #42

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  • URL: https://beamstart.com/news/hsbc-standard-chartered-among-24-17407316816033

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