The Business Of RMB Products Is Heating Up &Nbsp, And Foreign Investment Banks Are Doing Their Best.

With the internationalization of RMB, and cross-border trade.

Reporters learned yesterday from DBS Bank (China) that DBS group plans to invest 250 million Singapore dollars in the next five years to further promote foreign exchange and fixed income businesses in Asia, and expects RMB related businesses to become a strong growth point in the future.

"With the deepening of the internationalization of RMB, DBS is committed to establishing renminbi business across foreign exchange trading, bonds, structured products and hedging solutions through its network advantages in Greater China.

Through close cooperation between Hong Kong, Macau and the mainland, and Taiwan and the mainland, we provide various trade related products and solutions, investment services and structured products for individuals, enterprises and financial institutions. "

Wu Weihong, managing director and director of DBS bank financial market department, said.

It is understood that DBS can provide RMB products including money market, spot, forward, currency swap, structured products, bonds and other RMB products in mainland China.

Moreover, DBS has tried to become a bond maker in China this year, and has become one of the first participants in the currency swap.

Just two weeks ago, Citigroup also launched a comprehensive set of RMB agency and trust service products for Hongkong enterprises and institutional clients.

This product can cover RMB bonds, loans, third party trusteeship and structured financing pactions and many other business contents, and further increase the activity of the international RMB market.

It is understood that Citigroup has been able to support the delivery of Renminbi denominated global bonds in the European settlement system and the international settlement system. The RMB services supported by the bank include account services, fixed deposit, remittance, liquidity management, trade, foreign exchange, trusteeship and fund services.

"As Hongkong is rapidly becoming an offshore offshore service center, customers are also in urgent need of a more comprehensive financial solution.

We need to continuously introduce innovative RMB products to cater to the needs of our customers and help our customers catch market development opportunities.

Ben Lumleysmith, regional director of Asia Pacific agency and trust, Citigroup Global Trading Services, said.

Huang Bijuan, President and chief executive of HSBC (China), also said that with China's increasing influence on the global economy and trade, the demand for RMB services will gradually cover more extensive fields such as trade, capital market, investment, insurance and so on.

HSBC currently has the ability to carry out cross-border trade RMB settlement in 33 countries and regions, and will continue to actively participate in and promote the use of RMB related businesses in the world.