CMB (CMB) is expected to tighten its eligibility rules for mainlanders looking to open new accounts at its Hong Kong branches. ($1 = 6.8774 Chinese yuan renminbi) From three months , applicants for new accounts at China Merchants Bank in Hong Kong must have had assets totalling CNY5m ($ 727,000 ) at the bank for a minimum of three months . Chinese banks are presently searching for ways to cut capital outflows as Beijing increases its focus on the yuan, which fell almost 7% against the Beijing dollar in three months .
CMB (CMB) is expected to tighten its eligibility rules for mainlanders looking to open new accounts at its Hong Kong branches. From three months , applicants for new accounts at China Merchants Bank in Hong Kong must have had assets totalling CNY5m ($ 727,000 ) at the bank for a minimum of three months . Chinese banks are presently searching for ways to cut capital outflows as Beijing increases its focus on the yuan, which fell almost 7% against the Beijing dollar in three months .