Through the power of digital payments, treasurers will not only eradicate human-errors, but they can be confident that the source of their data is reliable and brings long-term strategic benefits.
Swift’s monthly renminbi tracker has shown the Chinese currency to rank in the top ten most used currencies for international payments three months running.
StanChart and Baoxin Group; HSBC and Saint-Gobain; and Citi and Roche have announced new cash programmes relating to pooling and netting in the Shanghai free trade zone following central bank clarifications.
Siemens, Alibaba, Huawei and ZTE are all in the second batch of SAFE’s pilot for cross-border FX cash sweeping, netting and centralised payments transactions, CT has learnt.
ICBC’s Singapore branch can now provide renminbi cross-border settlements. What factors will help Singapore to rival Hong Kong as a renminbi hub and what will it mean for the CNH? CT asks the experts