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Designated as the RMB Clearing Bank by the People’s Bank of China

2016-05-25

On August 4, 2004, the People’s Bank of China and AMCM signed a cooperation memorandum and the Macau Branch was authorized to conduct RMB business. This is a new highlight for the financial collaboration between the Mainland and Macau and a significant state policy to boost Macau’s economy. The Macau Branch welcomed and support this decision made by the Mainland and the Macau SAR and was designated as the RMB clearing bank in Macau.

On November 3 the same year, the Macau Branch officially launched personal RMB business. The Branch always takes upon itself the responsibility of serving the society, sticks to the principle of complying with agreements, and coordinates the work of the People’s Bank of China and AMCM. As the RMB clearing bank, the Branch works diligently and provides RMB clearing service for all participating banks of the RMB business.

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