Hong Kong's renminbi settlement runs through a designated clearing bank and became a full RMB real-time system after a 2007 announcement.
The structure and history of RMB clearing in Hong Kong.
The RMB RTGS system uses a designated clearing bank that holds a settlement account with the People's Bank of China and is a member of China's CNAPS. Banks in Hong Kong and elsewhere can join directly or indirectly.
Hong Kong's renminbi settlement system began on 6 March 2006, after a 1 November 2005 PBoC announcement widening RMB banking in Hong Kong, with a designated clearing bank; each RMB clearing member must keep a settlement account with that clearing bank.
After a 16 January 2007 PBoC announcement the system became a full RMB RTGS, adding interbank transfers, local and Shenzhen-Hong Kong cheque clearing and delivery-versus-payment for RMB-denominated bonds via the CMU.
Payment Systems — Hong Kong Monetary Authority
Renminbi Clearing System in Hong Kong — HKICL
Fact sheet last reviewed 2026-09-26. Jurisdiction rules are confirmed against the sources above; a provider's own requirements differ and are confirmed by the provider.
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The RMB RTGS system uses a designated clearing bank that holds a settlement account with the People's Bank of China and is a member of China's CNAPS. Banks in Hong Kong and elsewhere can join directly or indirectly.
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