The Offshore Renminbi Review: Offshore market should continue to broaden and deepen
28 Aug 2014
The sixth review took place in March and April 2014 and surveyed treasurers and senior treasury/finance executives from Asia, Europe and the US concerning their current and planned offshore Renminbi (RMB) activity: deposits, trade settlement, FX transactions, CNH bonds, loans, financial instruments in CNH. For the first time, users were queried on how they manage their RMB risk and non-users were asked for their attitude toward offshore Renminbi.
Key themes in this review
- Corporates plan to broaden their product use in the next 6 months
- Most repeat respondents have expanded their usage
- Improved control, risk management and efficiency
- Firms that both export to and import from China companies are more positive
- FX continues to be the most widely used product
- Increasing share of trade being settled via offshore RMB
- Business interactions with China – offshore RMB usage remains most popular amongst traders who import from or export to China companies
- Trade settlement and currency preferences – firms with two-way flows dominate
The Offshore Renminbi Review
The Offshore Renminbi Review is part of our Renminbi Research series, and is a quarterly survey of corporate opinion, conducted by Asset Benchmark Research.
Read the full report of this sixth review in English or Simplified Chinese.