Latest treasury/cash management news

  • 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
  • Foreign corporates get to grips with RMB curbs

    Intervention by Chinese authorities to stabilise RMB markets on and offshore have ushered in a difficult phase for foreign corporates, who once again are facing issues of trapped cash and tougher liquidity conditions.

    • 02 Feb 2017
  • RMB internationalisation stutters in 2016

    Renminbi internationalisation struggled to make progress in 2016 with RMB payments declining by close to 30%, according to Swift.

    • 26 Jan 2017
  • China hits the panic button with capital flow restrictions

    People’s Bank of China is returning to its old habits of sending out window guidance to banks in yet another attempt to stem capital outflows, with the latest measures targeting cross-border M&A and offshore RMB loans.

    • 01 Dec 2016

Treasury/cash management news archive

GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 CITIC Securities 38.46
2 China Merchants Bank Co 22.73
3 China CITIC Bank Corp 19.23
4 Industrial and Commercial Bank of China (ICBC) 8.74
4 Bank of China (BOC) 8.74

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 12-Jun-17 China Traditional Chinese Medicine Holdings China 2,000
2 22-May-17 CITIC Bank International China 3,000
3 19-May-17 China Power New Energy Development Co China 800
4 17-May-17 Daimler Germany 4,000
5 25-Apr-17 CAR Inc Hong Kong 300

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 JP Morgan 49.70
2 Barclays 10.06
2 Citi 10.06
2 HSBC 10.06
2 Bank of China (BOC) 10.06

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 01-Jun-17 Ocean Wealth (Parent: China Orient Asset Management) China 632
2 11-Apr-17 Bank of China Johannesburg Branch (BOC Johannesburg) China 1,500
3 22-Feb-17 Ocean Wealth (Parent: China Orient Asset Management) China 850
4 28-Nov-16 Loncin Holdings China 800
5 04-Nov-16 China Nuclear Engineering Group China 1,500