China


BAML launches China cross-border cash pool in Shanghai

Bank of America Merrill Lynch has launched an automated US dollar cross-border cash pooling services for corporations operating in the Shanghai Free Trade Zone. ZF TRW, a division of ZF Friedrichshafen, manufacturers of automobile safety systems, has implemented the working capital solution and is serving as the pilot client.

Deutsche Börse in tripartite deal to create new Chinese exchange

Deutsche Börse strengthened its links with mainland China this week with the establishment of a partnership with the Shanghai Stock Exchange and China Financial Futures Exchange to create new marketplace for the trading of renminbi-denominated offshore products under the new brand of the China Europe International Exchange.

European stock markets plan Shanghai links

Closer links between the Shanghai Stock Exchange and UK and European exchanges may be on the cards. The London and Shanghai exchanges are exploring a scheme to link their markets. At the same time, European exchange group Euronext announced a deal with the Shanghai Stock Exchange to promote its listed members to Chinese investors.

Reforms needed to build on Shanghai-Hong Kong Stock Connect success

The Shanghai-Hong Kong Stock Connect link has made significant in-roads in the opening of China’s capital markets to international trading but barriers to participation, including restricted trading strategies, introduce risk and create operational complexity. The long-term success of the venture hinges on removing these barriers, according to a study carried out for the DTCC.

RMB breaks into top five world payments currencies

The Chinese renminbi has become one of the world’s top five payments currencies, according to new figures released by Swift. The currency, first introduced to foreign investors in 2007, overtook the Canadian dollar and the Australian dollar in the last two months of 2014 to reach the top five.

China opens up A-shares market as RMB gains traction

A landmark deal between China’s Hong Kong and Shanghai stock exchanges is set to open up unrestricted access to the China A-shares market to foreign investors for the first time, starting this month. The deal also reflects the rising internationalisation of the Chinese renminbi currency worldwide.

Europe surging ahead in RMB internationalisation

Europe now represents 10% of total Renminbi payments in value worldwide and is leading adoption beyond Asian countries, with four European countries in the top 10, excluding China and Hong Kong, according to Swift. Overall, the RMB strengthened its position as the seventh most used global payments currency and accounted for 1.57% of global payments.

Hong Kong gets set for China Connect

Firms in Hong Kong are ramping up system roll-outs in anticipation of the forthcoming Shanghai-Hong Kong Stock Connect, scheduled to go live in mid-October.
But the proposed link will face a number of problems,

China moves cautiously towards options market launch this year

As China prepares to open an options market for the first time later this year, big changes are afoot in Asia’s biggest market. French trading technology specialist Horizon Software talks to Banking Technology about the kind of tools that will be needed to liberalise the Chinese economy.

2014 (2nd annual) China Supply Chain Finance Summit

This event is the only one high profile summit talking about supply china finance in China. With the scheme of “Seeking the Balance with Supply Chain Finance”, we will deeply discuss the topics like Supply Chain Finance Market Outlook and Trends for China;Collaboration in Supply Chain Finance;Products Innovation and Risk Control; Collaboration model of the whole supply chain;clearing&settlement etc.

State Bank of India centralises China reporting

State Bank of India has chosen tools for its new Chinese branch in the northeastern port city of Tianjin from Wolters Kluwer, which it says will help the bank deal with China’s regulatory reporting requirements.

London calling to the Chinese renminbi

Standard Chartered and Agricultural Bank of China have launched renminbi-denominated clearing services in the UK in a deal that reflects the ongoing internationalisation of the currency.

Standard Chartered Hong Kong rolls out digital branch

Standard Chartered Hong Kong has opened its first ‘digital’ branch, in which customers are greeted by giant screen TVs, the bank’s mobile apps in a special experience zone, and QR code scanning on an iWall, as well as e-signature pads and virtual queuing.

Looking to China’s Skipped Generation

China’s miraculous economic catch up since reform and opening up has created an unprecedented generation of consumers. The way this generation has adopted the on-line world in China is very different from that in the West.

HSBC rolls out mainland China corporate cash management solutions

HSBC Bank China has completed its first electronic tax payment for a corporate client in Shanghai, in a move that the bank says is the first among all foreign banks I the city. The new tax payment service deducts funds in real time and enables customers to complete tax reports and process payments on the government’s tax system terminal from any location.

The challenges of paying Asia faster

Slowly but steadily, financial institutions and their corporate clients are beginning to talk about growth again. Markets are gradually shifting from a purely defensive position; the Fed has spoken about tapering its quantitative easing programme; and many companies are putting expansion back on the agenda in response, writes Greg Murray.

CCP proliferation clouds Asian OTC derivatives markets reform

Most emerging Asian countries have developed or are developing their own CCPs and trade repositories in response to global reforms of OTC derivatives markets – but proliferation of CCPs is a concern, according to new research by analyst firm Celent.

HSBC plans to pilot FX netting in China

HSBC is to pilot a foreign exchange netting system in China after getting approval from authorities there – the first foreign bank to get such approval. The programme is part of the Chinese State Administration of Foreign Exchange’s recently launched Foreign Currency Centralised Management pilot scheme for multinational companies.

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