The Non-local RMB Transfer for Foreign Banks refers to an ABC branch which acts as the agent of a foreign bank to effectuate non-local RMB transfers, including non-local collections, payments and cash collections.
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The Agency Settlement Service for Other Banks is provided by ABC to other banks for settlement purposes such as money transfers and payments of bank drafts in accordance with the Administrative Rules on Payment and Settlement and the Administrative Rules on Agency Service for Payment and Settlement.
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