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Cash & Liquidity Management
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Pioneering Best Practices in Global Liquidity and Risk Management

Pioneering Best Practices in Global Liquidity and Risk Management

by Raymond Zhang, Assistant General Manager, Treasury Division, China International Marine Containers (Group) Ltd. 

An ING/ Bank Mendes Gans case study

China International Marine Containers (Group) Ltd (CIMC) has experienced considerable overseas business expansion in recent years, with 65% of revenues now generated from outside China. In 2013, the company was one of the first Chinese corporations to implement a multi-currency, multi-entity, notional cash pool with Bank Mendes Gans (BMG) offering considerable value in cash visibility, liquidity and FX risk management. In this article, Raymond Zhang, Head of Group Financing at CIMC outlines the background to this decision and some of their experiences so far, with comment from Norbert Braspenning, Managing Director Asia Pacific, Bank Mendes Gans (a subsidiary of ING).

Business context

CIMC covers a wide spectrum of activities from containers and vehicles through to energy, chemical and food equipment, offshore oil and gas and airport facilities. Over the past five years, we have structured our business into eight business segments, the cash and treasury management activities of which are managed through our treasury holding company. This comprises two divisions: cash management (which takes care of cash management, financing and bank relationships) and our financial service operation that is involved with group financing and leasing.