Latest treasury/cash management news

  • China in the Year of the Dog: FTZs are dead. Long live FTZs

    In the third of a four-part series of articles on China’s financial transformation, cash management experts tell GlobalRMB the wheels are again in motion for foreign corporations in China to move past nearly three years of strict capital controls that have all but killed their intent of using the country as a regional treasury hub.

    • 09 Mar 2018
  • The fintech revolution is here, says IFC

    Financial market participants will need to embrace the rise of new technology to survive the transition to a post-cash society, an area where China is taking the lead, Andi Dervishi, CIO and global head of fintech, e-payments and new finance at International Finance Corp (IFC), told a conference in Hangzhou.

    • 28 Nov 2017
  • SWIFTRef, gpi set to increase RMB payment efficiencies

    Swift is looking to further streamline the RMB payment experience with the recent integration of China’s cross-border interbank payment system (CIPS) data with its information platform and the launch of the global payments innovation (gpi) initiative, Eddie Haddad, managing director for Swift in Asia Pacific, told GlobalRMB.

    • 08 Nov 2017
  • RMB round-up: Xi orders watchdog to prevent financial risk, VW Financial’s China arm strikes second onshore bond, UK remains biggest centre for RMB FX trading

    Chinese president Xi Jinping orders authorities to take action to prevent financial risk, Volkswagen Financial Services’ China arm issues its second renminbi-denominated bond, and the UK reaffirms its status as the biggest centre for RMB FX trading.

    • 28 Apr 2017
  • PBoC takes first step to reboot RMB internationalisation

    People’s Bank of China (PBoC) relaxed capital controls for the first time since 2015 last week, scrapping an order introduced in January. Experts say the move is an attempt to rebuild foreign investors’ confidence, and may even signal a return to full blown renminbi internationalisation.

    • 21 Apr 2017
  • New FTZs could be salve for capital outflows blockade

    Foreign investors looking for opportunities in China will now have seven new free trade zones to choose from, following a low-key launch on March 31. While the impact of the individual zones will take time to evaluate, some argue the new FTZs could address China’s capital outflow problems.

    • 10 Apr 2017
  • A case for the renminbi’s growing maturity

    Renminbi depreciation has been one of the market's most talked about issues with many predicting the trend to continue well into 2017. But ICBC Asia’s co-head of global markets Jimmy Jim told GlobalRMB that such fears are overblown and he believes the renminbi is maturing into a two-way fluctuating currency.

    • 09 Mar 2017
  • FTZ: the struggle continues in 2017

    Two and a half years after the launch of the first pilot free trade zone in Shanghai, the authorities appear ready to inaugurate a third batch of FTZs. But recent moves to restrict capital outflows have ended up hurting foreign enterprises, dealing a blow to China’s efforts to open its capital account.

    • 20 Feb 2017
  • Japanese banks take RMBi step with CIPS entry

    Japanese lenders have been largely missing from headlines of RMB-related initiatives, but some are starting to dip their toes into RMB infrastructure, starting with the cross-border interbank payment system (CIPS).

    • 16 Feb 2017
  • RMB trade slowdown prompts treasury sophistication

    The growth of renminbi trade has stalled, but it has forced a turning point to how corporates use the Chinese currency.

    • 13 Feb 2017

Treasury/cash management news archive

GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 Industrial and Commercial Bank of China (ICBC) 20.05
2 China CITIC Bank Corp 17.18
2 Agricultural Bank of China (ABC) 17.18
2 CITIC Securities 17.18
5 China Merchants Securities Co 9.74

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 20-Mar-18 Republic of the Philippines Philippines 1,460
2 08-Mar-18 China Resources Land China 6,000
3 06-Mar-18 Air Liquide Finance France 2,200
4 09-Feb-18 Sino-Ocean Group Holdings Hong Kong 3,000
5 06-Feb-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 1,200

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 40.71
2 HSBC 14.48
3 DBS 5.36
3 Bank of China (BOC) 5.36
3 KGI Asia 5.36

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 16-Mar-18 First Abu Dhabi Bank PJSC United Arab Emirates 900
2 14-Mar-18 Greenland Holding Group China 1,500
3 08-Mar-18 Shinhan Bank South Korea 950
4 05-Mar-18 Country Garden Holdings China 950
5 02-Mar-18 Arab Petroleum Investments Corporation (Apicorp) Saudi Arabia 630