Mizuho Corporate Bank China (MHCB China), a wholly-owned subsidiary of Mizuho Corporate Bank, has started handling of RMB deposit accounts in China for non-residents, and on July 6, Daifuku Co opened an RMB deposit account at MHCB China.
MHCB China which handles RMB deposit accounts, claims that it will now be possible for Mizuho customers even non-resident companies to open RMB accounts in China, and such RMB accounts at MHCB China can be used to receive settlements in RMB.
Daifuku plans to use its RMB account to receive payment for exports to its local subsidiary in China and to make payments to local business partners.
Currently, trade settlement utilizing RMB is on the rise, and with the increased flexibility in the exchange rate of the Chinese currency, customer demand for RMB settlement and investment services is projected to increase.
In April of this year, Mizuho Corporate Bank, began offering RMB deposit accounts in Japan, and now with MHCB China offering RMB deposit accounts in China, Mizuho is able to provide a range of settlement methods and structures to meet the diverse needs of its customers.