SHANGHAI, Aug. 27 -- FOUR Tianjin outlets of the Bank of China today began to process domestic investors' requests to open accounts to directly trade Hong Kong-listed shares, according to the China News Service. At least 1,000 customers have subscribed to the service.

The State Administration of Foreign Exchange on August 20 allowed private investors to trade Hong Kong shares directly by opening accounts at Bank of China in north China's Tianjin City.

The four outlets received more than 1,000 subscriptions by yesterday afternoon, and investors can begin trading as early as Wednesday after their registration is verified in Hong Kong, the report said.

The banks other branches across the country can participate after signing agreements with the Tianjin outlets.

The move, viewed as a big step forward in opening up China's capital account regime, will help channel the country's rising foreign exchange reserves, but the effect may be limited initially at least.

China's forex reserves topped US$1.33 trillion at the end of June, making it the world's largest.