Market leading solutions
Westpac Institutional Bank makes it as easy for you to do business in China as it is locally. Drawing on our 40-year track record in Asia, we deliver intelligent solutions to help your business reach its full potential. We understand the complexities of the RMB internationalisation process and can work with you to ensure doing business in RMB is as simple as possible.
By sharing our insights through Westpac IQ we can help you make informed decisions about the future of your business.
Seamless banking
At the centre of our RMB service is a seamless day-to-day banking solution offered through our leading online banking platform Corporate Online. With Westpac Institutional Bank, you can:
- Open RMB transaction accounts
- View your balances and transaction history
- Make and receive payments
- View, confirm and settle foreign exchange deals, including visibility of your RMB FX exposures online and in real time.
Efficient trade
Our international trade solutions provide our trade customers with a range of benefits, from securing your goods and mitigating your payment risk to providing finance. We tailor our international trade solutions to meet you and your trade partners' needs.
By settling and financing in RMB, you have the opportunity to deepen your relationships with your Chinese trade partners, giving you the opportunity to negotiate better pricing by reducing foreign exchange and financing costs.
Intelligent finance
Our complete range of funding solutions can help you use RMB to manage working capital, fund expansion, boost your profile with Asian investors and match receipts with payments. Our end-to-end debt solutions which includes RMB denominated loans, provides financing to meet your supply chain requirements.
Risk management
At Westpac, we emphasise the importance of minimising risk when doing business overseas. Our risk management solutions give you the ability to manage and reduce currency exchange exposures or even RMB-denominated commodity price risk exposures, catering to both onshore and offshore requirements.
A better way to do business
The ability to negotiate and make payments in RMB gives you a key competitive advantage when doing business in China. At Westpac Institutional Bank, our RMB business and banking solutions provide you with a better way to do business.
Save money - Making payments to Chinese suppliers in renminbi may help you negotiate better prices by reducing transaction costs
Gain a competitive edge - The ability to negotiate and settle in renminbi may give you an advantage over your competitors
Access opportunities - Being able to settle trade in renminbi could open up business opportunities with Chinese companies that have limited access to foreign exchange and foreign currency financing
Build better relationships - By making it easier to do business with you, trading in renminbi could strengthen your relationships and win more business
Trade efficiently - By transacting in renminbi, Chinese companies will find it easier and cheaper to do business by removing foreign exchange risk and hedging costs. This provides you with the opportunity to lower transaction costs with your suppliers.
Reduce risk - Trading in the local currency gives you greater price transparency and can help reduce exposure to exchange rate and even commodity price volatility.
Things you should know
Information current as at 15 June 2021. The information above is general in nature and does not constitute any investment or financial advice or recommendation. The information has been prepared without taking into account your objectives, financial situation or needs. Although we have made every effort to ensure the information is free from error, none of Westpac Banking Corporation or its related entities warrants the accuracy, adequacy or completeness of the information, or otherwise endorse it in any way. The information above does not constitute an offer, a solicitation of an offer, or an inducement to subscribe for, purchase or sell any financial instrument or to enter a legally binding contract. You should seek your own independent legal and financial advice before proceeding with any decision. The services and products described above are provided in accordance with appropriate local legislation and regulation and subject to local capability, and may not be available in all countries.
Australia: Westpac Institutional Bank is a division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 (“Westpac”).
NZ: In New Zealand, Westpac Institutional Bank refers to the brand under which products and services are provided by either Westpac (NZ division) or Westpac New Zealand Limited (company number 1763882), the New Zealand incorporated subsidiary of Westpac (WNZL). Any product or service made available by WNZL does not represent an offer from Westpac or any of its subsidiaries (other than WNZL). Neither Westpac nor its other subsidiaries guarantee or otherwise support the performance of WNZL in respect of any such product or service. WNZL is not an authorised deposit-taking institution for the purposes of Australian prudential standards. The current disclosure statements for the New Zealand branch of Westpac and WNZL can be obtained at the internet address www.westpac.co.nz.
UK and Europe: Westpac is registered in the United Kingdom as a branch (Branch No. BR000106) and is authorised and regulated by the Australian Prudential Regulatory Authority in Australia. Westpac is authorised in the United Kingdom by the Prudential Regulation Authority (PRA). Westpac is subject to regulation by the Financial Conduct Authority (FCA) and limited regulation by the PRA in the United Kingdom. Details about the extent of our regulation by the PRA are available from us on request. Westpac Europe Limited is a company registered in England (number 05660032) and is authorised by the PRA and regulated by the FCA and the PRA. This communication is being made only to and is directed at (a) persons who have professional experience in matters relating to investments who fall within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (b) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). Any person who is not a relevant person should not act or rely on this communication or any of its contents. The investments to which this communication relates are only available to and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such investments will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely upon this communication or any of its contents. In the same way, the information contained in this communication is intended for "eligible counterparties" and "professional clients" as defined by the rules of the Financial Conduct Authority and is not intended for "retail clients". With this in mind, Westpac expressly prohibits you from passing on the information in this communication to any third party. In particular this communication and, in each case, any copies thereof may not be taken, transmitted or distributed, directly or indirectly into any restricted jurisdiction.
China, Hong Kong and Singapore: Westpac Singapore Branch holds a wholesale banking licence and is subject to supervision by the Monetary Authority of Singapore. Westpac Hong Kong Branch holds a banking licence and is subject to supervision by the Hong Kong Monetary Authority. Westpac Shanghai and Beijing Branches hold banking licences and are subject to supervision by the China Banking and Insurance Regulatory Commission (CBIRC).
U.S.: Westpac operates in the United States of America as a federally licensed branch, regulated by the Office of the Comptroller of the Currency. Westpac is also registered with the US Commodity Futures Trading Commission (“CFTC”) as a Swap Dealer, but is neither registered as, or affiliated with, a Futures Commission Merchant registered with the US CFTC. The services and products referenced above is not insured by the Federal Deposit Insurance Corporation (“FDIC”). Westpac Capital Markets, LLC (‘WCM’), a wholly-owned subsidiary of Westpac, is a broker-dealer registered under the U.S. Securities Exchange Act of 1934 (‘the Exchange Act’) and member of the Financial Industry Regulatory Authority (‘FINRA’).