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The HKMA guarantees to exchange US dollars into Hong Kong dollars, or vice versa, at the rate of 7.80. When the market rate is below 7.80, the banks will convert US dollars for Hong Kong dollars from the HKMA; Hong Kong dollar supply will increase, and the market rate will climb back to 7.80.
Hong Kong Internet eXchange (HKIX; Chinese: 香港互聯網交換中心) is an internet exchange point in Hong Kong. The cooperative project is initiated by the Information Technology Services Centre (ITSC) of the Chinese University of Hong Kong (CUHK) providing the service free of charge. [ 3 ]
In 2001, BOC regrouped its Hong Kong operations into Bank of China (Hong Kong); then BOCHK listed on the Hong Kong Stock Exchange in October 2002. Two-thirds of its share capital are in free float . The bank's headquarters in Hong Kong are located in the Bank of China Tower , designed by the renowned architect I.M. Pei , and was opened to the ...
In 2014, Royal Bank of Scotland changed direction and closed 44 branches which were the last in town, as branch transactions had fallen by 30% over the last four years. [68] Royal Bank of Scotland will close 259 more branches across Britain in its latest round of cuts as customers shift to online banking. [69]
Bank of China (Hong Kong) Limited (Chinese: 中國銀行(香港)有限公司), abbreviated as BOCHK (Chinese: 中銀香港), is a subsidiary of the Bank of China (via the Hong Kong-listed intermediate holding company BOC Hong Kong Holdings). Bank of China (Hong Kong) is the second-largest commercial banking group in Hong Kong in terms of assets ...
The Hong Kong Monetary Authority (HKMA) is the central banking institution of Hong Kong. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merged.
As one of the top five financial centres worldwide, Hong Kong has one of the highest concentrations of banking institutions in the world, with 70 of the largest 100 banks in the world having an operation in Hong Kong. As of 2019, there were 164 licensed banks, 17 restricted licence banks and 13 deposit-taking companies in business, constituting ...
The central bank of the People's Republic of China is the People's Bank of China, a component of the State Council, the Central Government of China. The People's Bank of China is mainly responsible for issuing the Renminbi and administering its circulation, in addition to formulating and implementing monetary policy in accordance with Chinese ...