Recently, the Bank of China and the Cross-border Interbank Payment and Clearing Co., Ltd. (hereinafter referred to as the "Cross-border Clearing Company") joined hands to open the CIPS Bond Connect direct service function for Orient Securities, successfully completing the line with Bond Connect market makers. On the capital settlement business.

Bank of China is the first state-owned commercial bank in China to launch this function, realizing the direct flow of Bond Connect collection, payment and settlement information to investment institutions, allowing them to efficiently, safely and conveniently interact with Bank of China for settlement instructions and various data information. This function effectively supports the online processing of the Bond Connect business between banks in China and investment institutions, while also realizing payment settlement confirmation, data reporting and other functions, further improving the efficiency of cross-border RMB clearing and assisting foreign investors in RMB investments.

In March 2023, with the support of the Cross-Border Clearing Corporation, Industrial Bank and Guotai Junan Securities Co., Ltd. successfully launched the CIPS Bond Connect direct service, completing the first domestic online Bond Connect fund settlement between a Bond Connect settlement bank and Bond Connect participants. business.

CIPS is a payment system approved by the People's Bank of China to specialize in RMB cross-border payment and clearing business. It is an important financial market infrastructure for my country to promote RMB internationalization and "Belt and Road" financial integration. Through the online platform's instruction transmission, efficient and convenient processing procedures, and real-time monitoring of sending and receiving status, the security, convenience and visibility of cross-border fund payments can be improved in multiple dimensions. Before the launch of the "Bond Connect Direct Service", the Bond Connect collection, payment and settlement information flow could not be obtained directly, and settlement instructions and various data information had to be exchanged with the agency clearing bank through other methods, resulting in high interaction costs and certain operations. Hidden risks. After this function is launched, it will effectively support the online processing of Bond Connect business, and can realize functions such as payment settlement confirmation and error processing of large business of our card, and further improve the efficiency of cross-border RMB clearing.