Briefs: Bank of China registered in NZ, draft NZ responsible lending code released, Apple Pay making 19 November 2014 4:25PM Banking Day staff Briefs, The Reserve Bank of New Zealand has registered the state-owned Bank of China (New Zealand) Ltd as a bank in New Zealand. It is the third Chinese bank to achieve registration in New Zealand behind Industrial and Commercial Bank of China and China Construction Bank. Bank of China NZ named former National Party Cabinet Minister Chris Tremain as its chairman and former National Party Finance Minister Ruth Richardson as a director. New Zealand Commerce and Consumer Affairs Minister Paul Goldsmith released an 85-page draft Responsible Lending Code for consultation with consumer lenders. The voluntary code offers guidance for consumer lenders in the wake of the Credit Contracts and Consumer Finance Amendment Act passed earlier this year, which aimed to offer protection against predatory lending by loan sharks and payday lenders. Submissions are due by December 23. Apple Pay has made its mark on payments in the United States in its first month. US trade media reports that Apple chief executive Tim Cook said iPhone 6 owners set up one million Apple Pay accounts in the first 72 hours it was offered. McDonald's, which accepts Apple Pay at its 14,000 restaurants in the United States, said Apple Pay accounted for 50 per cent of its tap-to-pay transactions, while drugstore chain Walgreens said its mobile wallet payments had doubled since it came out. Apple Pay is accepted at about 220,000 locations around the US.