Bank of China (Hong Kong) (02388.HK) has announced the full launch of its ‘Mainland China Property Purchase Remittance’ service. Building on the existing Greater Bay Area property purchase remittance service, the scope of remittances has been expanded to cover all cities in mainland China. Additionally, eligible customers have been extended from Hong Kong permanent residents to Macao permanent residents, Taiwan residents, and foreign citizens, facilitating property purchases by overseas individuals in mainland China and promoting regional integration and talent mobility.

The Bank of China (Hong Kong) ‘Mainland China Property Purchase Remittance’ service allows customers holding a ‘Mainland Travel Permit for Hong Kong and Macao Residents,’ a ‘Mainland Travel Permit for Taiwan Residents,’ or a foreign passport to remit payments for purchasing new or second-hand properties in mainland China to receiving banks across all mainland cities. Eligible customers must visit a branch of the bank to process the service and can choose to remit funds in Hong Kong dollars, Renminbi, or other foreign currencies; non-Renminbi remittances will be converted and credited by the receiving bank in mainland China.

Furthermore, in response to customers’ cross-border financing needs at various life stages, Bank of China (Hong Kong)’s Greater Bay Area ‘Easy Property’ solution offers mortgage loans and property collateral loans to Hong Kong permanent residents, assisting them in purchasing properties in mainland China or securing financing with properties in the Greater Bay Area. This service currently covers properties in nine mainland cities within the Greater Bay Area. The mortgage loan option provides choices in both Hong Kong dollars and Renminbi to meet diverse financial planning needs.

Sources: Futubull