Renminbi Surveys
Executive Summary
Since 2012, Asset Benchmark Research has gathered opinions from companies on their Renminbi business and trends in this market. We conduct surveys on a quarterly or bi-annual basis and generally focus on six main areas of Renminbi activities: deposits, trade settlement, FX transactions, loans, CNH bonds and financial instruments. Companies are asked questions about their current and future use of these products. They are also asked about recent trends in their China business and how they expect the market to develop over time.
Projects
2018 China Business Outlook
During the 19th National Congress in October last year, President Xi Jinping stressed the importance of pursuing the One Belt, One Road (OBOR) initiative, giving equal emphasis to both “bringing in” and “going global”. In this context, Asset Benchmark Research conducted a survey on behalf of Standard Chartered Bank in the fourth quarter of 2017.
2017 China Business Outlook
In the first quarter of this year, Asset Benchmark Research conducted a survey on behalf of Standard Chartered Bank to provide constructive insight on the China economy, offshore renminbi usage patterns, risk management and opportunities in the One Belt, One Road initiative. The project started in mid-March and spanned a month during which 205 treasurers and senior treasury/finance executives from Asia, Europe and the US were surveyed. 63 respondents also provided comments in follow-up interviews.
Progress amid uncertainty
The international acceptance of China’s currency, the renminbi, continues to grow. The global renminbi survey conducted by Asset Benchmark Research (ABR) on behalf of CCB finds both progress and pull-back in various aspects of the process. The annual survey aimed to gauge the level of acceptance of the renminbi in cross-border trading and financing activities among China-based and foreign corporations. Altogether, 210 companies participated in the survey conducted in August and September last year.
Offshore Renminbi Review
The Offshore Renminbi Review (ORR) is a quarterly review of the offshore Renminbi market that was started in the fourth quarter of 2012. Till date we have surveyed over 600 companies on the subject of offshore Renminbi. In the most recent round of the ORR, 161 treasurers and senior treasury/finance executives from Asia, Europe and the US participated. 48 respondents also provided comments in follow-up interviews.
Renminbi Review 2015
The Renminbi Review 2015 was a review of the impact of the devaluation of the Renminbi that took place over a 3-week period from late-October to mid-November 2015. Asset Benchmark Research surveyed 173 treasurers and senior treasury/finance executives from Asia, Europe and the US concerning how they managed the RMB FX risk given the volatility of the currency after August 11. The survey also looked at how the respondents have changed their attitude toward settling trades in RMB and the volume of trades they actually settle in the currency.
Cross-border use of the Renminbi
In August and September of 2015 we surveyed over 100 corporates in China, Europe and South America on the subject of the cross-border use of Renminbi in international trade as well as on financing and investment in Renminbi and Renminbi hedging.
Methodology
Our methodology is rigorous and designed to accommodate the requirements of respondents. Our questionnaires are meticulously crafted, capitalizing on a deep knowledge of the industry and close ties with the content specialists which enable us to create a high-level, relevant survey.
Our dedicated research team first reaches corporate treasurers, CFOs and finance directors, walking them through the scope and purpose of the project and directs them to an online survey. Personalized follow-up calls are then made to ensure detailed, qualitative insights are obtained. Face-to-face interviews may also be conducted. Because we speak directly to our respondents instead of merely passing on forms they can fill out, we provide an in-depth look into the perspective of corporates that few others are capable of. Qualitative feedback and observations are transcribed and reported alongside quantitative output, giving subscribers detailed, actionable results.
