Hang Seng Bank received approval to conduct RMB banking business in Shenzhen, the bank's third mainland branch to get the license after Shanghai and Guangzhou.
The bank also plans to open a branch in Beijing and Macau, with a sub-branch scheduled to open in Shanghai in November.
While foreign banks are allowed to conduct RMB business with mainland companies at the end of this year, Hang Seng said it will focus on foreign – mainly Hong Kong corporate clients.
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