Zhuhai port on Hong Kong-Zhuhai-Macao Bridge logs over 25 mln vehicle crossings since opening

The Zhuhai Port on Hong Kong-Zhuhai-Macao Bridge in south China has recorded over 25 million cross-border vehicle crossings since its opening, according to the bridge's border inspection station under the Zhuhai immigration authority on Monday.

The peak daily volume of cross-border vehicles reached 29,700, with passenger vehicle clearance volume ranking first in the country.

More than 4.25 million vehicles have passed through the Zhuhai highway port of the bridge this year, of which 2.48 million are Hong Kong and Macao single-plate vehicles, a year-on-year increase of 8.1 percent.

The 55-kilometer bridge linking the Hong Kong Special Administrative Region, Macao Special Administrative Region and the city of Zhuhai, all in south China, opened to traffic on October 23, 2018. It is the world's longest bridge-and-tunnel sea crossing.

The bridge has shortened the driving time from Hong Kong to Zhuhai and Macao from three hours to about 45 minutes.

The People's Bank of China (PBOC), the country's central bank, announced on Monday that it has decided to authorize Deutsche Bank to serve as the RMB clearing bank in Frankfurt, Germany.

The decision was made in accordance with a memorandum of understanding between the PBOC and the Deutsche Bank, the central bank said.

Deutsche Bank said it will facilitate direct end-to-end processing, clearing and settlement services for cross-border renminbi transactions for European financial institutions and businesses.

The bank said the move streamlines cross-border trade and investment flows, and strengthens financial connectivity between China and Europe.