Southwest China's Chongqing municipality on Dec 12 began exploring a new domestic and foreign currency integrated bank account system.

The ICBC Chongqing Liangjiang branch has adopted the system on a trial basis, according to the news report on Dec 13 from the modern service bureau of Liangjiang New Area.

The domestic and foreign currency integrated bank account system is based on the renminbi bank settlement account and will unify the foreign currency bank account business rules and separate capital management and account management.

The system will make it easier to open a bank account, and one set of account information will suffice to apply for a multi-currency bank settlement account, which will make it cheaper for enterprises to open accounts.

As a core area for Chongqing's opening-up endeavor, Liangjiang will take this opportunity to better serve the real economy and deepen financial reforms.