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Global RMB Poll

Asiamoney Global RMB Poll 2020

The Global RMB Poll asked corporations, financial institutions and institutional investors to identify the best service providers in the renminbi market

Asiamoney’s ninth Global RMB poll generated responses from 1,682 institutions, showing the importance of the market even as China’s government shifts its focus to other policy priorities, particularly responding to trade threats from the US and steering the economy through the impact of the coronavirus.

The poll generated responses from around the world. The greatest number of responses unsurprisingly came from China, which represented 48.68% of the voting pool. Hong Kong accounted for 17.39% of total responses, Taiwan for 6.08%, the US for 4.71%, Japan for 4.08% and Singapore for 3.5%.

There were also votes from Australia, France, Germany, India, Indonesia, Korea, Malaysia, the UK and elsewhere.

Respondents were asked to nominate their top three services providers for RMB products and services in both the onshore and offshore markets. They were also asked to nominate their favoured service provider in a number of categories, including advisory, foreign exchange, transaction banking and bond syndication.

Global RMB Poll 2020 Results

Overall rankings
Client satisfaction scores (offshore)
Client satisfaction scores (onshore)

Best overall global RMB products/services

(global)

2020 2019 Firm %
1 1 HSBC 55.69%
2 3 Bank of China 8.67%
3 2 MUFG 7.52%
4 4 Bank of China (Hong Kong) 3.35%
5 5 ICBC 3.19%
       

Best overall offshore RMB products/services

(offshore)

2020 2019 Firm %
1 1 HSBC 54.31%
2 2 MUFG 9.87%
3 3 Bank of China 7.48%
4 4 Bank of China (Hong Kong) 4.57%
5 - ICBC 2.53%
       

Best overall onshore RMB products/services

(onshore - all providers)

2020 2019 Firm %
1 1 HSBC 57.06%
2 3 Bank of China 9.85%
3 2 MUFG 5.16%
4 4 ICBC 3.84%
5 - China Merchants Bank 3.61%
       

Best overall onshore RMB products/services

(onshore - Chinese providers only)

2020 2019 Firm %
1 1 Bank of China 39.30%
2 2 ICBC 15.33%
3 5 China Merchants Bank 14.38%
4 3 China Construction Bank 10.40%
5 4 Agricultural Bank of China 9.86%

Best CNH transaction banking and treasury management

(offshore)

2020 Firm Score
1 HSBC 1.747
2 MUFG 1.683
3 Standard Chartered 1.203
4 Mizuho 0.963
5 Bank of China 0.952
     

Best CNH derivatives

(offshore)

2020 Firm Score
1 HSBC 1.722
2 Citi 1.318
3 MUFG 1.282
4 Agricultural Bank of China 1.219
5 Mizuho 1.068
     

Best CNH research and analysis

(offshore)

2020 Firm Score
1 Standard Chartered 1.953
2 HSBC 1.601
3 MUFG 1.410
4 Agricultural Bank of China 1.283
5 Citi 1.250
     

Best syndication of CNH bonds

(offshore)

2020 Firm Score
1 HSBC 1.803
2 Bank of China 1.110
3 China Merchants Bank 1.096
4 Standard Chartered 0.999
5 MUFG 0.981
     

Best advisory

(offshore)

2020 Firm Score
1 MUFG 1.894
2 Citi 1.802
3 Standard Chartered 1.736
4 HSBC 1.057
5 Mizuho 1.057
     

Best in RMB foreign exchange

(offshore)

2020 Firm Score
1 Citi 1.813
2 HSBC 1.608
3 MUFG 1.452
4 Bank of China 1.112
5 Agricultural Bank of China 0.964
     

Best sales and solutions

(offshore)

2020 Firm Score
1 HSBC 1.720
2 MUFG 1.514
3 Standard Chartered 1.251
4 ICBC 1.215
5 Citi 1.197

Best CNY transaction banking and treasury management

(onshore)

2020 Firm Score
1 HSBC 1.798
2 Standard Chartered 1.408
3 China Construction Bank 1.292
4 Agricultural Bank of China 1.154
5 MUFG 0.973
     

Best CNY derivatives

(onshore)

2020 Firm Score
1 HSBC 1.825
2 China Construction Bank 1.219
3 Bank of China 1.118
4 MUFG 0.974
5 Standard Chartered 0.866
     

Best CNY research and analysis

(onshore)

2020 Firm Score
1 HSBC 1.915
2 MUFG 1.338
3 Agricultural Bank of China 0.902
4 Mizuho 0.867
5 Standard Chartered 0.843
     

Best syndication of CNY bonds

(onshore)

2020 Firm Score
1 HSBC 1.805
2 Standard Chartered 1.510
3 MUFG 1.372
4 China Merchants Bank 1.372
5 Mizuho 1.308
     

Best advisory

(onshore)

2020 Firm Score
1 HSBC 1.697
2 Standard Chartered 1.535
3 MUFG 1.310
4 China Merchants Bank 1.245
5 China Construction Bank 1.172
     

Best in RMB foreign exchange

(onshore)

2020 Firm Score
1 MUFG 1.604
2 HSBC 1.584
3 China Construction Bank 1.237
4 Bank of China 1.205
5 China Merchants Bank 1.148
     

Best sales and solutions

(onshore)

2020 Firm Score
1 MUFG 1.646
2 HSBC 1.636
3 China Construction Bank 1.319
4 China Merchants Bank 0.939
5 Standard Chartered 0.935
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