2023-04-28

Added 2026-06-21 · Updated 2026-07-10

Currency Conversion Arrangement Involving Onshore RMB (CNY) under Northbound Swap Connect

The Hong Kong Monetary Authority issued this circular on April 28, 2023, to outline the regulatory framework for currency conversion involving onshore Renminbi under the Northbound Swap Connect mechanism. The document establishes the specific operational requirements and compliance standards that authorized financial institutions must adhere to when facilitating these cross-border currency transactions. It serves as the primary reference for implementing the approved arrangements while ensuring alignment with existing Renminbi business regulations.

Hong Kong

Hong Kong Monetary Authority

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CIR

Current

Issue Date:

28 Apr 2023

20230428-2-EN.pdf (488.1 KB)

Topic:

Renminbi

Group:

Specific

Directly related Document

Cross referenced Document

Version History

Superseded Document

Directly related Document

CIR

Current

28 Apr 2023

Currency Conversion Arrangement Involving Onshore RMB (CNY) under Northbound Swap Connect

CIR

Current

28 Apr 2023

Currency Conversion Arrangement Involving Onshore RMB (CNY) under Northbound Swap Connect

Cross referenced Document

Version History

Superseded Document

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