NEWS！ Recently, Hang Seng China cooperated with Kin Sang Chemical to successfully carry out the “cross-border RMB two-way capital pool” business through its subsidiary registered in the Shanghai Free Trade Zone, making Kin Sang Chemical the first batch of companies to successfully carry out such business in the Shanghai Free Trade Zone One of the Hong Kong-funded enterprises. Kin Sang Chemical is a leader in the plastic distribution in Hong Kong and China. As a senior agent of many world-renowned chemical factories, it has a strong demand for RMB capital circulation at home and abroad.
Questions about cross-border RMB circulation? Easy to solve!
Over the years, due to the difficulty in the cross-border circulation of RMB funds, it is difficult for multinational companies that “break in” to enjoy the abundant capital flow from overseas group headquarters, and Chinese-funded companies that “go out” also suffer from the inability to directly obtain domestic cash flow.
Now, according to the spirit of the Shanghai Headquarters of the People’s Bank of China (Yin Headquarters issued  No. 22), registered companies in the Shanghai Free Trade Zone can carry out the “cross-border two-way RMB capital pool” business within the group according to their own operational and management needs, namely With the enterprise account in the zone as the main account, the two-way circulation of funds in the domestic RMB fund pool and the overseas RMB fund pool is realized. In just half a year, this business has become the preferred business of many multinational companies in the free trade zone with a keen sense of wealth. Centralized management of funds at headquarters brings maximum effectiveness.
Hang Seng China is a suitable financial institution that implements this innovative business.
Connecting China and Hong Kong, Hang Seng has more advantages
Hang Seng China has always attached great importance to the related business and development of the Shanghai Free Trade Zone. At the same time, relying on the strong financial background of the parent bank in Hong Kong, it will give full play to the advantages of the linkage between China and Hong Kong to develop and deeply customize exclusive customer solutions.
For example, in cooperation with Kin Sang Chemical, Hang Seng China not only helped it easily realize the internal operating financing of the enterprise group but also better promoted the centralized management of the group’s internal funds, effectively improving the group’s business in Hong Kong and Shanghai. The utilization rate of funds in the mainland of free trade zone greatly reduces the exchange risk faced by cross-border settlement. As a stable partner of enterprises, Hang Seng China not only meets the existing needs of enterprises for working capital and cross-border RMB trade settlement but also will continue to provide comprehensive cash management solutions and superior services.
Cross-border trade finance, Chinese CFOs trust Hang Seng
In September this year, the authoritative media “Chief Financial Officer” published by the domestic CFO group solemnly awarded Hang Seng China the “Best Cross-border Trade Finance Award”. As an award that has attracted the attention of China’s CFO and other elites and first-line financial institutions for many years, its gold content is self-evident. Hang Seng China has witnessed the rise of China’s cross-border finance, and with its more mature local experience, richer international perspective, and more diversified cross-border services, it has shown that countless Chinese and Hong Kong companies and talents have achieved asset appreciation. Today, the Shanghai Free Trade Zone has also opened up new possibilities for more multinational companies, and the financial expert Hang Seng China is also looking forward to working with more elites to create a better tomorrow.