Over the past three years, Asset Benchmark Research has gathered opinions from companies on their Renminbi business and trends in this industry. We have conducted three surveys including the Offshore Renminbi Review, Renminbi Review 2015 and a questionnaire on cross-border use of Renminbi in international trade. We generally focus on six main areas of Renminbi activities: deposits, trade settlement, FX transactions, loans, CNH bonds and portfolio investments. Companies are asked questions about their current and future use of these products. They are also asked about recent trends and how they expect the market to develop over time.
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.
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.
The Impact of RMB Devaluation on Usage Patterns
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.
Findings of the 2015 Global RMB Survey
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.