HSBC Taiwan offers discount to boost offshore RMB market
The China Post news staffTAIPEI, Taiwan -- HSBC Taiwan has recently announced a promotional discount until late September to maintain its leading status in the offshore renminbi (rmb) market in Greater China, after HSBC Holdings shone through again in the offshore rmb poll of 2013.
September 5, 2013, 12:01 am TWN
According to Asiamoney's second offshore rmb poll, HSBC Holdings, which has a major Hong Kong presence, has been voted the best provider of offshore rmb products and services for the second year in a row.
To celebrate this honor, HSBC Taiwan has recently launched a promotion that offers a one-percent discount for each New Taiwan dollar & rmb exchange, according to its Taiwan branch.
HSBC Taiwan has also launched a new function under its “Global Transfer” service that allows HSBC Premier & Advance customers to conduct cross-border money transfers with credits without paying a processing fee to HSBC Taiwan.
Asiamoney's 2013 offshore rmb poll was based upon 713 valid responses from companies, financial institutions and investors that use offshore rmb products and services. The HSBC ranking showed a marked improvement on the response rate in 2012.
Voters proved more fickle in their attitude towards other highly ranked banks, with Citi Group advancing to second this year at the expense of Standard Chartered, which fell out of the top three. Bank of China successfully defended its rank at third place.