Since the beginning of this year, Singapore Branch has been actively supporting the Centralized Operation of Foreign Exchange Funds of Multinational Corporations (MNCs) and Two-way Cross-border RMB Cash Pooling Business. 

Over ten qualified MNCs under the “Going Global” or “Bring-in” customer group were selected and marketed for the two businesses. To date, through the Bank’s online platform, the Branch has successfully completed cash pooling transactions for Guotsing Holding Group Co Ltd and Fuhua Tong-da Agro-chemical Co. Ltd between their respective Head Office based in Qingdao/Sichuan and Singapore Subsidiary.  These transactions marked a break-through for the Branch in the cross-border RMB cash pooling business. 

The business allows MNCs a holistic management of it offshore RMB funds and proffers greater capital operation latitude; resulting in cost savings. At the same time, it also plays a critical role as an enabler in enhancing the relationship and deepening cooperation between the domestic and oversea Branches within the Bank; leading to a win-win partnership.