If your bank is active in payments with China, your strategy must take into account the spectacular growth of the use of the Chinese Renminbi (RMB) beyond China’s borders.
As we are overflowned with predictions about the RMB, it has become key for banks to find reliable data. Watch Value Analyser is SWIFT’ solution to provide banks with payments traffic data on currency, volume and value for their own traffic, as well as market and country totals, allowing them to calculate market shares and set growth ambitions.
To complement this and for banks that do not have Value Analyser, SWIFT developed a 40-page RMB Business Insights report, that includes 26 tables with actual RMB traffic.
Given the high interest in this data, SWIFT will also be producing a free monthly “RMB tracker” that will be available upon request as of October 2011.
To obtain a copy of the SWIFT RMB Business Insights report, to subscribe to the free monthly tracker or for more information on Watch Value Analyser, please contact email@example.com.
You can also attend one of our complementary webinars on “Growing your RMB business”:
Since June 2010, corporations anywhere in the world can settle in RMB and this has contributed to the spectacular growth in RMB denominated payments. For example, between October 2010- September 2011, international RMB payments grew by 1,306 percent.
Both Chinese and non-Chinese banks involved in global trade with China will feel the impact of the internationalisation of the Chinese currency on their business, as documented in the white paper recently released by SWIFT with the contribution of Bank of China, Citi, Deutsche Bank, HSBC, ICBC and Standard Chartered.