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Global RMB Poll

Asiamoney Global RMB Poll 2019

The renminbi's internationalisation may have taken a back seat for now, but its importance continues to rise among global corporations

China’s push to internationalize its currency may have taken a back seat to domestic reform, but the renminbi continues to rise in importance among global corporations. Asiamoney’s eighth Global RMB Poll received responses from 2,039 different corporations, an increase of 8.6% from the previous year.

Not every corporation voted just once. The importance of renminbi services to treasurers, CFOs and other executives meant the total number of valid responses was 2,134 this year, compared with 2,026 in the previous year.

Respondents were asked to nominate their top three service providers in 16 different categories, including overall onshore RMB products and services (split between a general result and one limited to Chinese providers only) and overall offshore RMB products and services.

The following awards were given separate categories in the CNH and CNY markets: transaction banking and treasury management, derivatives, research and analysis, bond syndication, advisory, foreign exchange, and sales and solutions.

These results were then combined into the award for best overall global RMB products and services.

Voters came from a wide range of countries, although perhaps unsurprisingly most were from Asia. Companies from China accounted for 32.03% of responses, from Hong Kong for 21.97%, Japan for 10.94%, Taiwan for 9.51% and Singapore for 4.36%. The poll also garnered responses from Australia, France, Germany, India, Indonesia, Korea, Malaysia, the US and the UK.

Global RMB Poll 2019 Results

Overall Rankings
CLIENT SATISFACTION SCORES (OFFSHORE)
CLIENT SATISFACTION SCORES (ONSHORE)

Best overall global RMB products/services

(global)

2019 2018 Firm %
1 1 HSBC 49.63%
2 2 MUFG 15.42%
3 3 Bank of China 8.20%
4 4 Bank of China (Hong Kong) 3.36%
5 - ICBC 2.75%
       

Best overall offshore RMB products/services

(offshore)

2019 2018 Firm %
1 1 HSBC 50.85%
2 2 MUFG 14.36%
3 3 Bank of China 6.98%
4 4 Bank of China (Hong Kong) 4.10%
5 - Citi 2.31%
       

Best overall onshore RMB products/services

(all providers)

2019 2018 Firm %
1 1 HSBC 48.42%
2 2 MUFG 16.49%
3 3 Bank of China 9.43%
4 4 ICBC 3.44%
5 - China Construction Bank 2.67%
       

Best overall onshore RMB products/services

(Chinese providers only)

2019 2018 Firm %
1 1 Bank of China 42.23%
2 2 ICBC 15.42%
3 3 China Construction Bank 11.96%
4 4 Agricultural Bank of China 11.51%
5 5 China Merchants Bank 9.60%

Best CNH transaction banking and treasury management

2019 Firm Score
1 Citi 1.79
2 Standard Chartered 1.46
3 HSBC 1.41
4 MUFG 0.95
5 Hang Seng 0.73
     

Best CNH derivatives

2019 Firm Score
1 HSBC 2.46
2 MUFG 1.23
3 Agricultural Bank of China 0.77
4 Citi 0.66
5 BOC 0.58
     

Best CNH research and analysis

2019 Firm Score
1 HSBC 2.02
2 MUFG 1.65
3 Agricultural Bank of China 0.78
4 China Construction Bank 0.78
5 Mizuho 0.75
     

Best syndication of CNH bonds

2019 Firm Score
1 MUFG 2.09
2 HSBC 1.48
3 Agricultural Bank of China 0.84
4 Citi 0.84
5 Standard Chartered 0.84
     

Best advisory

2019 Firm Score
1 Mizuho 2.03
2 HSBC 1.44
3 MUFG 1.27
4 Citi 0.94
5 Agricultural Bank of China 0.90
     

Best in RMB foreign exchange

2019 Firm Score
1 HSBC 1.41
2 Hang Seng 1.40
3 Mizuho 1.18
4 MUFG 1.03
5 Bank of China (Hong Kong) 1.02
     

Best sales and solutions

2019 Firm Score
1 Mizuho 2.87
2 ICBC 1.78
3 MUFG 1.43
4 HSBC 1.38
5 Bank of China (Hong Kong) 0.89

Best CNY transaction banking and treasury management

2019 Firm Score
1 Citi 1.73
2 MUFG 1.60
3 Agricultural Bank of China 1.49
4 HSBC 1.35
5 Mizuho 1.06
     

Best CNY derivatives

2019 Firm Score
1 MUFG 3.06
2 HSBC 1.90
3 Mizuho 1.53
4 Citi 1.17
5 Standard Chartered 0.99
     

Best CNY research and analysis

2019 Firm Score
1 MUFG 1.91
2 HSBC 1.68
3 Citi 1.50
4 ICBC 0.90
5 Mizuho 0.76
     

Best syndication of CNY bonds

2019 Firm Score
1 China Merchants Bank 1.87
2 MUFG 1.80
3 HSBC 1.71
4 Mizuho 1.28
5 Agricultural Bank of China 1.11
     

Best advisory

2019 Firm Score
1 Standard Chartered 1.96
2 HSBC 1.65
3 Citi 1.59
4 MUFG 1.51
5 China Merchants Bank 0.96
     

Best in RMB foreign exchange

2019 Firm Score
1 HSBC 1.79
2 Citi 1.35
3 MUFG 1.24
4 ICBC 0.77
5 Standard Chartered 0.77
     

Best sales and solutions

2019 Firm Score
1 MUFG 2.20
2 Standard Chartered 2.10
3 HSBC 1.70
4 China Merchants Bank 1.13
5 Mizuho 1.11
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