Awards recognizing the strongest banks in China, as Chinese bankers take leading roles on the global stage.
Capitalizing on global interest in the renminbi, Standard Chartered offers a wide array of renminbi services, including cash management, bond offerings, currency hedging and cross-border renminbi clearing. Standard Chartered is now one of the most active participants on China’s Cross-Border Interbank Payment System and leads foreign banks in value and trading of renminbi bonds.
J.P. Morgan was one of the first foreign firms to set up a representative office on the mainland. J.P. Morgan has joint ventures with local partners in its brokerage, trust and fund management business lines and has shared its investment expertise across the ventures, resulting in funds that have performed well amid volatility. The bank’s commitment to being active in the market likely contributed to Chinese regulators’ recent decision to issue it the first license to operate a wholly owned fund management company.
FX and Interest Rate Hedging
Many companies were caught off guard last year when China’s central bank cut the value of the renminbi by almost 2% to boost exports. The move rattled markets and underlined the importance of minimizing currency risks. Standard Chartered draws on its experience and its renminbi capabilities to let clients choose onshore or offshore FX conversions for their trade transactions, reducing risks while presenting opportunities to gain from renminbi value differentials.
Cross Border Trade Settlement
A regional powerhouse, DBS has implemented top-notch technology across its extensive network in Southeast Asia to enhance cross-border trade settlement services. The bank’s online interface streamlines payment and collection while automatically submitting regulatory filings, resulting in an estimated 1% in interest expense savings for clients each year. In the past year, the bank has enhanced its open-account renminbi cross-border trade settlement and seen a 148% increase in its trade finance balances since June 2015.
Foreign Exchange Provider
As Hong Kong’s most popular bank, HSBC has a long history of facilitating business between mainland China and the rest of the world. Based on this experience, HSBC is well-positioned at the forefront of the pack of foreign banks conducting exchange transactions within and beyond China’s borders. Last year HSBC was among the first foreign banks to join the Cross-Border Inter-Bank Payment System and saw its income from the renminbi internationalization rise to $1.7 billion for the year, up 3% over 2014.