StanChart promotes renminbi products and services via roadshow

The move will cover an array of topics including renminbi overview, crossborder trade settlement, renminbi trading and bond offerings, as well as hedging and investment opportunities.

Standard Chartered Bank (Hong Kong) Ltd. (“Standard Chartered”) kick started Monday a series of roadshow on offshore RMB in Hong Kong (CNH). The initiative caters to meet mounting interest from corporate clients for offshore RMB-related products and services spurred by liberalisation of the RMB currency, according to a StanChart report.

With an aim to keep its clients abreast of all latest trends, regulatory changes and new capabilities in relation to the ever-changing CNH market, Standard Chartered will bring the seminars to Beijing, Shanghai, Hong Kong, Seoul, Guangzhou and Shenzhen between 17 January and 22 February. The roadshow, with the theme of “New Developments in CNH (Offshore RMB) Market”, will cover an array of topics including CNH overview, crossborder trade settlement, RMB trading and bond offerings in Hong Kong, as well as hedging and investment opportunities. The seminars are expected to attract 500 corporate clients.

John Thang, Standard Chartered’s Managing Director and Regional Head of Financial Markets Sales of Northeast Asia said the roadshow is a response to the tremendous enquiries received by the bank from corporate clients, who are keen to explore opportunities to ride their businesses on the growing popularity of RMB worldwide and new CNH capabilities in the market.

“The roadshow is expected to draw an overwhelming response from clients. Since the liberalisation of the RMB currency, corporate clients see the need to keep themselves abreast with the fast-changing CNH landscape, just so they can stay ahead of the game,” said Thang. “With the ongoing development of both offshore and onshore RMB markets, the CNH sector will be met with changes and opportunities. We will conduct more roadshows for clients as we see fit in the future.”

Standard Chartered has been the pioneer of many various offshore RMB products and services, which help to establish and solidify Hong Kong’s status as an RMB offshore centre. Over the past few months, the bank has been the sole arranger of a slew of CNH related deals, including CNH bond offerings for McDonald’s and China Power International Development and Certificate of Deposit for Agricultural Bank of China Ltd. It has also participated in the launch of CNH bonds by China Development Bank, Asia Development Bank and Export-Import Bank of China. As a forerunner in the RMB Cross-border Trade Settlement Pilot Programme, Standard Chartered was the first foreign bank to complete a two-way trade settlement with China in July 2009.Sta