The comprehensive RMB services of Citi are claimed to help clients to make efficiency gains in liquidity management and also improve their supply chain relationships in China.
Further, multi-national clients can use Citi’s RMB solution to include China subsidiaries into their global and regional treasury centres.
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The new solution also would allow clients to hedge against adverse currency movements, Citi stated.
Rajesh Mehta, EMEA head of treasury & trade solutions, remarked "EMEA is the second largest trade partner with China, and the European market is quick to adopt RMB denominated transactions. According to the SWIFT RMB Tracker, Europe currently represents 47% of RMB global payments, excluding China and Hong Kong."
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