Xinhua News AgencyDecember 4, 2013 07:47
Unionpay launches RMB clearing services in HK
HONG KONG, Dec. 4 (Xinhua) -- Unionpay International announced on Wednesday that it will offer direct renminbi clearing services outside China, starting with Hong Kong.
Sogo, Chow Tai Fook, Oriental Watch are among the first batch of Hong Kong merchants that will enjoy direct renminbi clearing services.
UnionPay International Chief Executive Officer Cai Jianbo said that launching the services will reduce exchange loss for merchants, and make them more willing to accept Unionpay cards.