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  • Trade

    56 per cent of international companies that currently do business in or from China expect to use more RMB over the next year while 27 per cent of companies that do not use the RMB expect to do so in the future. Moreover, 61 per cent of Chinese companies think that a foreign company willing to use RMB would gain a financial advantage over competitors that were not (HSBC survey, June 2015).

    You could negotiate better prices and reduce foreign exchange costs on your China trade by settling trade transactions in offshore renminbi, with HSBC. Chinese government liberalisation has made the renminbi into a fast-growing international trading currency. Total offshore cross-border reached RMB 11 trillion in 2015, nearly three and half times the levels seen in 2013.

    As of 2013, the RMB now accounts for over 18 per cent of total trade settlement in China. According to HSBC's 2014 survey 26 per cent of companies already use the RMB for cross-border trade settlement, and 20 per cent of those who don’t, plan to do so over the next three years.

    Cross-border trade settlement

    Invoicing in renminbi outside China is now unrestricted and your business can conduct almost all cross-border trade transactions with mainland Chinese companies in renminbi, using accounts and documentation support from HSBC. Since June 2012, all companies in mainland China with import and export qualifications can initiate and receive payments in renminbi for goods, services and other account items under China's Renminbi Trade Settlement Scheme. We also offer a wide range of renminbi trade financing and funding options (refer the Financing section of this website).

    Build your business on the Mainland with HSBC

    As a registered Chinese bank, we can help you establish and manage operations on the Mainland. HSBC will work with you to execute your expansion strategy, providing services such as to help with capital injection and reduction; payments; investments; and shareholder loans all compliant with Mainland authorities. Dividend payments can be paid and received in renminbi and there is no restriction on the maximum amount of individual renminbi payments for trade or capital accounts.

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