www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

FTZ branch to help Westpac expansion

By Wu Yiyao in Shanghai (China Daily) Updated: 2014-12-05 08:00

Australia's Westpac Banking Corp has opened a sub-branch in China (Shanghai) Piloted Free Trade Zone to target opportunities brought about by China's ongoing financial market liberalization, increased global use of the renminbi, and the recently signed China-Australia Free Trade Agreement.

The FTZ branch will be an extension of the bank's service offerings in China across trade finance, commodity finance, debt, capital markets, derivatives and foreign exchange, complementing the lender's main branches in Shanghai and Beijing, said Rob Whitfield, chief executive of Westpac Institutional Bank.

Since the FTZ was launched in September 2013, more than 40 lenders, including 20 foreign ones, have opened a branch or sub-branch within the zone offering services to facilitate trade between China and the rest of the world.

Whitfield said that the Chinese government has made it clear that its ultimate goal is to become a high-income economy by 2030 with Shanghai as a first-tier international financial center, and that his company has been committed to China since the early stages of that journey.

Bala Swaminathan, Westpac International's general manager, said that invoicing and settling trades in renminbi provides significant benefits as direct conversion creates savings on both sides, with reduced foreign exchange risk and the potential to negotiate discounts and better settlement terms.

Less than 5 percent of international trade settled via Westpac International were completed using the renminbi two years ago, but that has now jumped to some 35 percent, according to the lender's data.

"We anticipate the volume of trade and financial activities denominated in renminbi will continue to build with many of the activities taking place in both the Shanghai FTZ and Sydney," said Swaminathan.

International currency transactions involving the Australian dollar and the renminbi grew 248 percent in the year to February 2014, according to data from the SWIFT renminbi tracker.

Australia and China deepened their ties last month with a landmark free-trade deal, which reinforced the strategic value of the Shanghai FTZ, Swaminathan said.

Raymond Wang, general manager of the lender's new FTZ branch and its head of renminbi capability development, said its major clients are likely to include companies trading in commodities, agricultural products and crude oil.

Wang said that in future as financial markets open up, the lender may also help China's individual investors manage their wealth by diversifying their range of investment products.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 欧美一级毛片一 | 全免费a级毛片免费看不卡 全免费毛片在线播放 | 国产97在线观看 | 加勒比heyzo 加勒比久久综合 | 国产在线步兵一区二区三区 | 找个毛片看看 | 久久久精品一区 | 免费国产成人综合 | 欧洲一级鲁丝片免费 | 国产综合精品一区二区 | 全国男人的天堂天堂网 | 美女一级毛片 | 精品国产自在现线看久久 | 国内精品久久久久久影院8f | 国产精品亚洲一区二区三区在线观看 | 久久er精品热线免费 | 在线观看日本视频免费 | 99视频有精品视频免费观看 | 九九99九九在线精品视频 | 国产精品午夜免费观看网站 | 日韩在线黄色 | 99精品在线看 | 亚洲精品xxx | 久久亚洲精品国产精品777777 | 一区二区三区精品国产 | 1024手机基地在线看手机 | 一级成人a免费视频 | 欧美理论大片清免费观看 | 黄色毛片a | 日韩一区二区在线播放 | 看美女毛片 | 日韩成人一级 | 99re免费99re在线视频手机版 | 精品免费久久久久欧美亚一区 | 国产成人一区二区三区免费观看 | 亚洲一区二区三区高清 | 波多野结衣在线观看一区二区 | 精品乱人伦一区二区 | aaaa级毛片| 免费观看欧美一级毛片 | 日本亚洲欧美高清专区vr专区 |