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Clearing Code Bank Name Chinese Name Established SWIFT-BIC; 012: Bank of China (Hong Kong) 中國銀行(香港) 1917: BKCHHKHH 027: Bank of Communications (Hong Kong)
The Clearing House Automated Transfer System, or CHATS, is a real-time gross settlement (RTGS) system for the transfer of funds in Hong Kong. It is operated by Hong Kong Interbank Clearing Limited (HKICL), a limited-liability private company jointly owned by the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks ...
In 2024, HSBC, as part of the Hong Kong Association of Banks, began developing a roadmap to phase out cheques in the city and switch to electronic payments. According to Hong Kong Interbank Clearing Limited, cheque transactions in Hong Kong fell to HK$488.6 billion (US$62.5 billion) in December, down 13 percent year-on-year. [120]
The system was implemented by the Hong Kong Monetary Authority and operated by Hong Kong Interbank Clearing Limited (HKICL). It was launched for pre-registration on 17 September 2018. [7] Transfers and payments is available since 30 September 2018. [8]
The Cross-border Interbank Payment System (CIPS) is a Chinese payment system that offers clearing and settlement services for its participants in cross-border renminbi (RMB) payments and trade. CIPS is backed by the People's Bank of China and was launched in 2015 as part of a policy effort to internationalize the use of China’s currency.
The HSBC Hong Kong headquarters building is located in No 1 Queen's Road Central in the Central district on Hong Kong Island. [3] It was also home to HSBC Holdings's headquarters until the latter firm's move to London to meet the requirements of the UK regulatory authorities after the acquisition of the Midland Bank in 1992.
In September 2019 Hong Kong Exchanges and Clearing made a proposal to the London Stock Exchange to merge the two companies in a cash and share deal worth £29.6 billion, or £31.6 billion ($39 billion) including debt.
Electronic Payment Services (simplified Chinese: 易办事; traditional Chinese: 易辦事; pinyin: Yì bànshì), commonly known as EPS, is an electronic payment system based in Hong Kong, Macau, and with limited acceptance in Shenzhen since it began operations in 1985.