HSBC has launched a wide range of Renminbi (RMB) internet banking services for commercial banking customers in mainland China.

The new online RMB services include remittances, transfer and payments, deposits, application for import document credits, settlement of import bills and account enquiries.

Under the RMB trade settlement pilot scheme, HSBC was the first international bank to complete its RMB trade settlement in mainland China’s expanded provinces and cities, according to The Asian Banker.

Albert Chan, head of commercial banking for Hong Kong at HSBC, said: “With the rollout of RMB trade settlement to all overseas countries, and domestically to 20 provinces in June, we are launching these new online services to allow customers to settle their transactions in a more convenient and efficient way.

“We will also further broaden our RMB related products and services as regulations allow. With the largest network in mainland China among international banks, HSBC is well positioned to be a major player in the RMB trade settlement scheme.”