The Beijing branch of Hongkong and Shanghai Banking Corporation Limited (HSBC) has officially kicked off Renminbi businesses toward local enterprises, foreign-funded enterprises, foreigners and people from Hong Kong SAR, Macao SAR and Taiwan, turning itself the first foreign-funded bank in Beijing providing such services.

The first applicant for Renminbi businesses in Beijing, HSBC was among the first batch approved by China Banking Regulatory Commission on December 21, 2004 for preparation in this regard and received the authority's official approval recently.

By People's Daily Online