DBS is the winner of China’s best cash management deal for its tailored solution for Shanghai Yinta Technology. The e-commerce company collects sales proceeds through a virtual account operated by a money-service provider in Hong Kong, then uses those funds to pay suppliers in China.
DBS created a one-stop structure comprising a multi-currency free trade non-resident account and a separate non-resident account, connected through DBS Priority Pay and DBS Ideal. This enables Shanghai Yinta to route foreign currency funds within DBS, pay suppliers directly in foreign currency and convert funds for renminbi payments through the free trade account.
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