PBOC fast-tracks Hong Kong fire donations

The People's Bank of China has moved to ensure that donations from the mainland towards relief efforts related to the Tai Po fire in Hong Kong can reach their destination without delay.

In a notice issued on Thursday, the central bank's macroprudential policy bureau said it has encouraged commercial banks to establish a green channel for cross-border renminbi donations to support search-and-rescue operations, medical treatment and follow-up assistance relating to the fire.

Banks no longer need to review supporting documents and may directly transfer funds based on payment instructions from mainland institutions or individuals to the designated fund account (01287521901607), as long as they complete required data submissions.