RMB trade-related business for HK banks

Hong Kong banks, which have lobbied to conduct trade-related yuan business, could be permitted to do so. Mainland officials responded favorably to the proposal made during a recent visit of Hong Kong bankers to Beijing, but said they would hold off on a decision to allow Hong Kong banks to issue ATM or debit cards to customers living on the mainland. The Hong Kong delegation, which held separate meetings with Vice-Premier Huang Ju, China Banking Regulatory Commission Head Liu Mingkang and People's Bank of China Governor Zhou Xiaochuan, was led by Hong Kong Monetary Authority Chief Executive Joseph Yam.