[bgnewsletters]

Hello,

I am based in mainland and would like to keep most of my banking in HK.

Considering that USD and HKD: steadily depreciate against EUR and that I believe CNY will appreciate against EUR/EUR in the next months, I would like to keep more CNY in my hands while still having them available for online banking or transfers...

My question: how to maintain CNY in HK without HKID? From what I read on HSBC and other banks websites, only HKID holders can open a CNY account. Is there any way around?

Thanks!

[hktraveller]

Originally Posted by bgnewsletters

Hello,

I am based in mainland and would like to keep most of my banking in HK.

Considering that USD and HKD: steadily depreciate against EUR and that I believe CNY will appreciate against EUR/EUR in the next months, I would like to keep more CNY in my hands while still having them available for online banking or transfers...

My question: how to maintain CNY in HK without HKID? From what I read on HSBC and other banks websites, only HKID holders can open a CNY account. Is there any way around?

Thanks!

I don't thinnk so, because this rule is set by the mainland gouvernment. It is the same in Macau. There are also strict limits of how many RMB you can deposit each day. Furthermore the interest on RMB in HK is only around 0.5% pa, whereas it is much higher in China (Even after the 20% tax deduction)