The Monetary Authority has granted the transfer of the banking licence of China Construction Bank to China Construction Bank Corporation under the Banking Ordinance.

The grant of transfer took effect on September 17, the date the demerger of the bank into China Construction Bank Corporation and China Jianyin Limited became effective on the Mainland.

The corporation will continue to operate the bank's commercial banking business, including its Hong Kong branch, while Jianyin succeeds all other business.

The transfer of the bank's banking licence to the corporation enables the latter to continue the existing business of the bank's Hong Kong branch.

As this only involves the transfer of an existing banking licence, the total number of licensed banks in Hong Kong remains unchanged at 133.