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As companies look to bring about some form of normalization in a Covid-altered world, the corporate treasury function across Asia has continued to occupy center stage by moving digitization to the front seat in the drive to ensure that businesses are able to thrive. And nowhere in the region is digital transformation of the treasury more apparent than in China, whose rise to the position of being the world’s biggest trading economy has brought about a fivefold expansion in the use of its currency over the past decade. China has also been launching more measures to support growth of RMB as an international trade currency, including simplifying both capital and current account flows in RMB. As its import and export industries continue to grow, the global use of RMB is also expanding, particularly in cross-border trade transactions. Moreover, the People’s Bank of China strong backing for an e-CNY, a digital version of the renminbi, offer an exciting number of opportunities for corporates.
Join us as a panel of CFOs and corporate treasurers discuss how the rise of the renminbi and digitization during Covid-19 are reshaping the corporate treasury function in a webinar discussion organized by The Asset in association with DBS.
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