Treasury Management Internation Logo

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

HSBC’s Sibos Spotlight: Investing in the Future – from Diversity to Green Deposits

In the final instalment of HSBC’s Sibos Spotlight, Eleanor Hill (TMI) invites Nadine Lagarmitte and Suraj Kalati (HSBC) to consider how corporates’ attitudes to...

25:12

HSBC’s Sibos Spotlight: The ESG Landscape – what every treasurer needs to know

In the third edition of HSBC’s Sibos Spotlight Podcast series, TMI’s Eleanor Hill invites Farnam Bidgoli (HSBC) to provide an in-depth overview of the current ESG...

16:24

The Path to Transformational Global Cash Visibility

Davina Bradley (CEVA Logistics) and Conor Deegan (CashAnalytics) join TMI’s Eleanor Hill to explore how treasurers can transform their cash visibility and forecasting within their business in a matter of weeks using a...

33:16

HSBC’s Sibos Spotlight: Embedding ESG in Trade and Supply Chains

In the second podcast from HSBC’s Sibos Spotlight series, TMI’s Eleanor Hill speaks to Surath Sengupta (HSBC) about embedding ESG into trade and supply chains....

20:58

Lost in Transaction: Overcoming Payments Pitfalls

From simple errors to duplicates, fraud and sanctions violations, there are a number of areas where payments can go wrong – especially in the real-time environment. In this podcast, TMI speaks to Andrew Ferrao...

34:25

HSBC's Sibos Spotlight: Central Bank Digital Currencies

The first edition of HSBC’s Sibos Spotlight series sees TMI’s Eleanor Hill joined by Mark Williamson and James Pomeroy (HSBC) to discuss the hot topic of Central Bank Digital Currencies (CBDCs). Our guests discuss...

25:48

Payments Vision 2025: The Inside Track

Wim Grosemans, Steven Lenaerts (BNP Paribas) and Wim Raymaekers (SWIFT) join TMI’s Eleanor Hill to outline their vision for the payments landscape in 2025. Our guests consider how recent developments such as instant...

28:21

Stepping Out from the Shadows

“Treasurers needs to step out of the shadows and into the sunshine in terms of their strategic contribution.” claims Zitah McMillan, Co-Founder and CEO, Predictive Black. In this podcast, hosted by TMI’s Eleanor Hill, our guest declares that the...

16:54

Why the ‘One Size Fits All’ Approach is Outdated - A Cash Segmentation Treasury Masterclass

With the ongoing low interest-rate environment and increasing regulatory change, it’s more important than ever for treasurers...

23:55

Instant Payments: Instant Rewards

TMI’s Eleanor Hill sits down in the virtual TreasuryCast studio with J.P. Morgan’s Global Head of Real-Time Payments, Cyrus Bhathawalla, to discuss how treasurers can capitalise on the evolving nature of real-time payments. Our guest contemplates the elements...

23:55