CCB (Asia) Partners with Ant International to Execute Hundreds of Millions of RMB Cross-Border Transfer, Achieving Second-Level Clearing for Shanghai-Hong Kong Fund Transfers

Recently, CCB (Asia), together with the Shanghai Branch of China Construction Bank Corporation and Ant International, successfully completed a two-way cross-border transfer of digital RMB funds amounting to hundreds of millions of yuan. This transaction achieved second-level real-time clearing of two-way RMB fund transfers between Shanghai and Hong Kong, marking an important breakthrough in the application of digital RMB in corporate treasury fund management, and also representing another practical achievement in the coordinated collaboration between the two major financial centers of Shanghai and Hong Kong. Management of CCB (Asia) pointed out that this cooperation focused on the efficient collection and allocation of corporate funds both domestically and overseas, effectively addressing the efficiency and compliance pain points in large-value two-way flows through a transparent and secure fund management solution. As one of the first institutions in Hong Kong to participate in the construction of the central bank digital currency infrastructure, CCB (Asia) is pleased to join hands with Ant International and the Shanghai Branch of China Construction Bank Corporation to complete this important practice, which not only fully demonstrates Hong Kong's hub value in the process of RMB internationalization, but also provides a replicable and applicable operating model for future scenarios such as fund flows for enterprises going global and settlement between the mainland and Hong Kong. At the specific execution level, CCB (Asia), leveraging Hong Kong's position as a global offshore RMB business hub, efficiently completed the receipt and clearing of Shanghai-Hong Kong funds, providing assurance for the final settlement of the funds. Thanks to the "payment is settlement" feature of digital RMB, this transfer achieved second-level arrival of funds, with the entire transaction process recorded on-chain, fully traceable, and risk-controllable. While enhancing the quality and efficiency of domestic and overseas financial services for the real economy, it also helped enterprises reduce the cost of funds in transit in liquidity management.