ICBC Asia Confirms First Trades Under HKMA’s Optimized RBF Measures

ICBC (Asia) said it has confirmed the first batch of transactions under the Hong Kong Monetary Authority’s optimized Renminbi Business Funding Arrangement (RBF) measures launched today, according to Ming Pao. The bank said it is providing corporates with low-cost renminbi financing solutions with tenors including nine months, two years and three years, aiming to meet funding needs, facilitate cross-border trade and investment, and strengthen Hong Kong’s role as an offshore renminbi hub.