28 June 2019

HSBC tops Asiamoney’s Offshore RMB Poll for the eighth year in a row

HSBC has been voted the best overall provider of offshore renminbi (RMB) products and services in Asiamoney’s Offshore RMB Poll 2019.

We’ve topped Asiamoney’s renminbi survey for the eighth year in a row.

More than 2,000 corporates and institutional investors across 14 markets voted in Asiamoney’s Global RMB Poll – and we’ve been voted as the best overall bank again.

This means we’ve made the top spot every year since the magazine began surveying clients, highlighting our success helping customers capture opportunities from the development of the renminbi (RMB) as an international trade, investment and reserve currency.

Helen Wong (front row, second from left) and other senior leaders celebrate our success

“Ten years on from the beginning of China’s capital account liberalisation, RMB internationalisation is evolving but HSBC’s leadership is consistent,” said Helen Wong, Chief Executive, Greater China.

“Colleagues around the world have made these results possible through their commitment and focus on meeting our clients’ needs.

“I want to thank everyone involved for the part they have played. It’s an extraordinary achievement to be number one for eight consecutive years in the face of strong competition.”

‘New heights’

We were also named the best bank for RMB in the following categories:

  • Offshore (new category)
  • Onshore (new category)

And we topped customer satisfaction rankings for:

  • Derivatives
  • Offshore foreign exchange
  • Onshore foreign exchange
  • Research and analysis

“The inclusion of Chinese stocks and bonds in global indices has taken the RMB to new heights as an investment currency,” said Helen.

“HSBC has continued to invest in its capabilities to ensure we can offer market-leading services to the growing number of international investors and issuers accessing RMB capital markets.”

RMB reserves held by global central banks rose 64 per cent year on year to the equivalent of USD202.79 billion in the final three months of 2018, according to International Monetary Fund data.

Our strengths

We have RMB trade settlement capabilities across 50 markets globally – more than any other bank – demonstrating how our global footprint supports our aspiration to be the leading international bank in China.

Our HSBC Qianhai Securities joint venture – launched in 2017 – provides global investors with equity research and brokerage services for China’s domestic market, as well as offering companies capital markets underwriting services and mergers and acquisitions advice.

We were also the top underwriter for panda bonds – RMB-denominated debt issued by foreign entities in China – among international banks and the leading underwriter for offshore RMB bonds in 2018.

“HSBC has a strategic commitment to helping international and domestic clients benefit from the continuing liberalisation of RMB financial markets and services,” said Helen.

“These are complex times but interest in China from global investors and companies remains very strong. We look forward to working with more clients who want to do business in China or access China’s markets.”

The value of our global network

Gaining market share and delivering growth from our international network is one of our eight strategic priorities.

Accelerating growth from our Asian franchise, including in China – one of our international markets – is another priority.

Our global network: Where you fit in

Disclaimer

*Source: Dealogic

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