More than 2,000 companies, financial institutions and investors voted in the awards

HSBC has been named best bank overall for offshore renminbi (RMB) products and services in Asiamoney’s Offshore RMB Poll for the fifth year in a row. The bank also won all 10 category prizes.

More than 2,000 companies, financial institutions and investors that use the Chinese currency voted in the awards. They recognised the bank’s expertise in areas including offshore RMB foreign exchange and clearing services, fund services, research on offshore RMB, as well as advice on regulations concerning the currency’s offshore use.

We act as a bridge between what China’s policies mean and the implications for our customers

Candy Ho, Global Head of RMB Business Development, HSBC, said: “We act as a bridge between what China’s policies mean and the implications for our customers and I think clients are appreciative of that.”

The RMB has risen rapidly in prominence as an international trade, investment and reserve currency since the introduction of reforms to encourage its use. It is due to be included in the International Monetary Fund’s basket of international reserve currencies from October 2016.

HSBC identified growing business from the internationalisation of the RMB as one of 10 strategic actions at its Investor Update in June 2015.

Asiamoney Offshore RMB Poll 2016

HSBC won the following awards:

  • Best overall offshore RMB products and services

  • Best for offshore RMB wealth management

  • Best for offshore RMB bond origination

  • Best for offshore RMB derivatives

  • Best for offshore RMB foreign exchange

  • Best for offshore RMB fund investment

  • Best for offshore RMB clearance, transaction banking and settlement

  • Best for offshore RMB fund services

  • Best for offshore RMB liquidity management

  • Best for advice/information on offshore RMB regulations

  • Best for offshore RMB research

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