OREANDA-NEWS. April 26, 2011. The Bank of East Asia (“BEA”) announces the launch of a renminbi (“RMB”) refund offer for the initial public offering (“IPO”) of Hui Xian REIT, reported the press-centre of BEA.

From now until 11th May, 2011, new customers who open any all-in-one account with a refund cheque from the Hui Xian REIT IPO after its subscription period will receive a HKD 50 supermarket cash coupon for every deposit of RMB50,000 they make.

Each customer may receive a maximum of HKD 500 in cash coupons and the offer will be available on a first come, first served basis.

In addition, BEA customers with a valid RMB deposit account can enjoy other RMB offers, including a HKD 50 supermarket cash coupon for every RMB100,000 they receive in exchange for Hong Kong dollars and a preferential interest rate for placing a RMB time deposit with new funds. These attractive offers will be valid until 30th June, 2011.

“To celebrate the launch of Hong Kong’s first RMB-denominated IPO, BEA is pleased to offer highly attractive offers to investors, including a subscription fee waiver, which is currently being offered and the refund benefits announced today,” says Mr. Simon Lau, General Manager & Head of Personal Banking Division. “As our customers strive to take advantage of upcoming RMB investment opportunities and capture the potential appreciation of the RMB, we shall continue to add value to our RMB services to meet the diverse needs of our customers,” he adds.

BEA’s all-in-one accounts, including the SupremeGold Account, the Supreme Account, and the i-Account, allow customers to manage all their personal banking needs via one simple, easy-to-use account. To open an all-in-one account, customers may apply at their nearest BEA branch. For more information, please visit any BEA branch, or visit the BEA homepage at www.hkbea.com.

Renminbi Risk Disclosure Statement
The value of the renminbi (“RMB”) fluctuates against other currencies and will be affected by, amongst other things, control measures taken by the government of the People’s Republic of China (“PRC”).

(For example, the PRC government regulates conversion between the RMB and foreign currencies both in Hong Kong and Mainland China.) As a result, the return on RMB products, including deposits, stocks, and other investment products may be adversely affected if said products are converted to another currency. Furthermore, the RMB is not freely convertible at present, and conversion of the RMB through banks in Hong Kong is subject to certain restrictions. In particular, conversion of the RMB by an individual customer is subject to a daily limit. If a customer intends to convert an amount in RMB from/to another currency that exceeds this daily limit, the customer should allow for a sufficient period of time for this conversion to be successfully processed.

Customers who intend to trade RMB securities should note that the prices of RMB securities fluctuate, sometimes dramatically, as with any other securities. RMB securities prices may move up or down, and may become valueless. It is as likely that losses may be incurred rather than profit made as a result of buying and selling securities. Before making any investment decision, customers should consider carefully and seek professional advice where necessary.

Note: The terms renminbi (“RMB”) and Chinese yuan (“CNY”) are interchangeable. Both refer to the currency of the People’s Republic of China.