Global RMB Poll 2021 Methodology

Asiamoney’s RMB Poll – one of the region’s most comprehensive client-oriented surveys for assessing RMB services – asked corporate treasurers, financial institutions and institutional investors to pick the best service providers in the renminbi market.

Asiamoney’s 10th RMB poll received a total of 1,799 valid responses from 1,718 different companies, shining light on the importance of the market even as China’s government pushes renminbi internationalization lower down on its agenda as it continues opening its financial markets to international players.

Consisting of a quantitative market leaders section and a qualitative customer satisfaction section, respondents were asked to vote for the banks they use and rate the services they offered.

The survey received responses from around the world. The greatest number of responses came from China, which accounted for 42.40% of the voting pool, followed by Hong Kong at 12.91%, Japan with 12.1%, and Taiwan with 7.32%.

There were also votes from Australia, France, Germany, Indonesia, South Korea, Malaysia, the United States, the United Kingdom and elsewhere.

In the quantitative section, respondents are asked to rank (1st, 2nd, and 3rd) the top three banks they use for offshore (CNH) and onshore (CNY) markets. Banks nominated 1st receive three points, banks nominated 2nd receive two points and banks placed 3rd receive one point. Points are then aggregated for each bank to produce a market share percentage score for the best overall offshore (CNH) products and services and best overall onshore (CNY) products and services rankings. The best overall global RMB products and services ranking is further calculated by combining the votes a bank receives for both the best overall CNH and CNY products and services rankings.

In the qualitative section, respondents will be asked to rate the products and services for each bank they’ve voted for. A customer satisfaction score (0-7) is used to produce a ranking for these categories using the ratio of positive ratings to negative ratings a bank receives. The RMB products/services customer satisfaction scores rankings are calculated by averaging the scores a bank receives for each of the products and services they offer onshore and offshore.

To avoid any one institution having more influence than others of equal size, multiple responses were fractioned according to the total number received from that one institution.

Personal and corporate information are crucial and should be inputted accurately and completely in the questionnaire; such information is required to verify the truthfulness of responses during auditing and is protected by Asiamoney and the Euromoney Group of Companies. Some respondents will receive a validation email from Asiamoney and will be required to click on a validation link to complete the voting process.

Asiamoney pays attention to unusual voting behaviour and suspicious personal/corporate details, and will investigate possible cases of fraud. If irregularities are found, the votes in question will be nullified and violating parties will face blacklisting.

Corporations, financial institutions and institutional investors from across the globe that have used RMB services during the past year are welcomed to participate in the poll to rate their banks and give feedback on the quality of the RMB services provided.

Note: Only foreign entities (WOFEs, JVs) engaging in cross-border RMB transactions qualify for voting in the CNY market.

Banks are encouraged to invite their clients to participate.

Voter confidentiality is strictly protected, with information pertaining to respondents and how they voted being stringently guarded, unless explicit permission has been given by the voter for their identity to be disclosed.