A survey of China’s top companies reported a marked dissatisfaction with trade finance and liquidity management services, products they also ranked as among the most important, according to East & Partners.
It seems treasurers are hard to please. Based on research compiled by East & Partners, the level of satisfaction of transaction banking services in Asia is misaligned with the quality of service they are getting.
Taiwan’s central bank has agreed with its counterpart in China to create renminbi clearing in Taiwan. Trade settlements could shoot up to $12 billion by the end of the year as a result.
The British bank, HSBC, has hired Quang Buu Huynh from Vietnam to Hong Kong to run global trade and receivables business in an effort to drive trade revenue in the bank’s key markets.
Indonesia July PMI reaches 51.4 with strong growth in new orders, HSBC economists show, but other regional manufacturing PMI numbers are dismal for July
European banks are pulling financing out of Asia with Singapore and Hong Kong badly hurt, especially in trade finance. Asian banks are taking some of the slack.