by Xu Yan,General Manager, Payments and Cash Management Department, ICBC
With the ever accelerating growth of the global trade and increasing expansion of business operation areas, it has been, for a long time, an important part of business development strategy for multinational corporations aspiring for development after the financial crisis to formulate a correct global treasury management strategy. In light of this, the Chinese market is undoubtedly an important factor in this strategy, which is taken into account by treasurers around the world.
After years of reform and development, China’s financial environment has become more and more open and suitable for business treasury management operations. This provides an unprecedented platform for businesses to engage in economic activities in the country. In such an increasingly open environment, Chinese banks have taken an active part in treasury management businesses, contributing to their growth and enabling them to become more and more mature. At present, the vast majority of national commercial banks in China have already launched their cash management services, which are based on RMB and foreign settlement and liquidity management services. Some banks have even launched their own cash management brands.
Sign up for free to read the full article
Register Login with LinkedInAlready have an account? Login