ICBC (Asia) Completes Hong Kong's First "e-CNY Connect" Cross-Border Remittance

ICBC (Asia) has successfully completed Hong Kong's first cross-border DIGIHUMAN renminbi remittance via the "CBETS" (Cross-border e-CNY Transfer Services) comprehensive cross-border settlement platform, assisting a corporate client in remitting DIGIHUMAN renminbi funds from mainland China to its corporate account with ICBC (Asia) across the border, thereby opening up the CBETS cross-border corporate settlement channel between the mainland and Hong Kong. Gu Xuan, Executive Director, Deputy Chief Executive and Alternate Chief Executive of ICBC (Asia), said that as one of the first overseas banks to directly participate in CBETS, ICBC (Asia)'s successful completion of Hong Kong's first CBETS cross-border DIGIHUMAN renminbi remittance marks a new, efficient and convenient path for ICBC (Asia) to support enterprises in taking their funds global. This major strategic upgrade and key breakthrough fully demonstrates the core advantages of central bank digital currency in reducing cross-border settlement costs and improving capital turnover efficiency and transparency. Gu Xuan pointed out that ICBC (Asia) will continue to rely on the group's global network and efficient cross-border capital settlement advantages to contribute to the country's financial modernization and high-level opening-up.