The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Surveys

Cash management: A revolution in cash for China

Demand for sophisticated cash management services in China is rising as the authorities press for greater business efficiency at home and Chinese corporates expand their foreign operations. Renminbi liberalization is another driver.

For many global lenders, China once embodied both ends of the financial spectrum, but little in between. Banks until very recently harboured fantasies of becoming local retail banking powers; others coveted plum mandates on mainland stock sales. A very few desired both.

Fewer focused on the middle ground, often for good reason. Transaction banking, the heart and lungs of global banking, offered much in the longer term, yet it remained wrapped in red tape. The frustration was felt both by Chinese firms keen to go global and by multinationals desperate to inject efficiency into sprawling mainland operations.

Yet within just a couple of years, all that changed. Cash management is suddenly in vogue in China, and everyone wants a piece of the action. At Shanghai-based Bank of Communications (BoCom), the country’s fifth-largest lender, revenue from the cash management division is rising by 75% a year, according to Yao Wei, BoCom’s head of cash management.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree