Standard Chartered Sets Up RMB Cross-Border Cash Pool for Parsons Music

Published 

Standard Chartered Bank announced today it has set up a Renminbi-denominated cross-border cash pool for Hong Kong-based Parsons Music Group (“Parsons”).

The cash pool, which has no quota and gone live end-October, allows Parsons to optimise its liquidity management across its vast network, which consists of around 100 self-operated branches across Hong Kong and 27 mainland cities including Shanghai and Beijing.

Parsons’ President, Arling Ng, said: “We are very pleased to partner with Standard Chartered, which supports us in setting up the cash pool. This offers us the opportunity to save financing costs by using our internal funds, which are also more reliable. We are now able to manage our onshore and offshore RMB-denominated cash flow with greater flexibility, control and visibility. We look forward to strengthening our partnership with Standard Chartered in the future.”

Standard Chartered’s Head for RMB Solutions, Carmen Ling, said: “We are pleased to support Parsons and look forward to strengthening our partnership in the future. We are seeing more corporates setting up cash pools as many treasurers now see the benefits of connecting China with other regional treasury centres in Asia or even the rest of the world. Promoting RMB internationalisation remains a key priority for Standard Chartered. We are committed to keeping ourselves abreast of new initiatives and policies to better support our clients on capitalising opportunities through various cross-border channels.”

Most recent episodes

40th Annual New York Cash Exchange: What Can Treasurers Expect?

Ahead of the 40th annual New York Cash Exchange, two of TMANY’s distinguished board members, David Miller and Timothy T. Hesler, CTP, provide TMI CEO, Robin Page, with a quickfire rundown of what attendees can expect from this year’s conference. Our guests share their aspirations for the event,...

00:00

Expectation-Beating Inflation Prints Ratchet Up Pressure on Monetary Policy

Welcome to the third edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 9th May...

04:48

Making the Sustainable Transition: A Roadmap to ESG in Treasury

Over the last 18 months, Societe Generale has experienced a steady increase in requests from their corporate clients to integrate ESG features in treasury management.  Louis-David Rouyer, Philippe Pougeard, and Emmanuelle Petelle (Societe Generale) provide TMI’s Eleanor Hill with a whistlestop run...

22:24

Lift Off for Fed Rate Rises

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 5th of...

04:58

Treasury in 2022 and Beyond

Industry experts Bob Stark (Kyriba) and Sebastian di Paola (PwC) join TMI’s Editor, Eleanor Hill, to explore the very latest treasury trends – and to discuss how smart treasurers can get ahead of the game by ...

43:21

How BearingPoint Harnessed Data-Driven Forecasting with CashAnalytics and SAP

Listen back to our recent forecasting masterclass, where Group Treasurer Eveline Stam, and Conor Deegan (CashAnalytics) provided TMI’s Eleanor Hill with a comprehensive overview of how consultancy firm BearingPoint achieved company-wide cash forecasting nirvana by combining specialist solutions from...

37:14

The 3 T’s of The Future: Tech, Treasury, and Transformation

Over the past two years, an increasingly dynamic environment has not only accelerated technology development – from quantum computing to blockchain technology, and even the metaverse – but also technology adoption, bridging colleagues and breaking down silos in a remote work world. In this podcast,...

44:02

Monetary Policy Continues to Drive Markets as Ukraine Invasion Weighs on March Meetings

Welcome to the second edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 3rd of...

05:25

Tax Spotlight: How the OECD’s Two-Pillar Solution Impacts Treasury

Aaron Lee and Joseph Lee (DBS Bank) join TMI’s Eleanor Hill to discuss how the OECD’s Two-Pillar Solution aims to address the tax challenges arising from the digitalisation of the economy. Ahead of the 2023 implementation date multinational corporates will have much to consider around these reforms....

24:00

FX Connections: Bringing Transparency to Cross-Currency Payments

Cross-border activity is growing at a remarkable rate, making FX payments a hot topic for treasurers across the globe.  In this TreasuryCast episode, Eleanor Hill asks Daniela Eder and Gibran Maqsood (Barclays Corporate Banking) to provide their key action points around FX payments in 2022. Our guests...

21:00