Business in China may be the key to your success.

In recent years, China's economic growth performance has remained significant. It continues to be one of the largest and rapidly growing economies in the world. And with the Belt and Road Initiative introducing significant social, economic and infrastructural changes, China's growth could inspire your business to explore new global opportunities. At HSBC we know the way and we're here to help you navigate global trade opportunities.

The rise of the RMB

Over the course of just a few years, the renminbi (RMB) – like China’s wider economy - has undergone a dramatic transformation.

Fifteen years ago, renminbi usage was largely confined to mainland China. Now, all around the world, more companies and investors are using the renminbi for trade, investment, hedging, cash management and financing as they interact with what is now the world’s second-largest economy and a crucial engine of global growth.

Today, China’s RMB is the third most-used currency in trade finance, and its usage in non-China markets continues to increase. For the past six years, HSBC has conducted its RMB Internationalisation Survey to gain a better understanding of what company attitudes and outlooks are toward using the currency for cross-border transactions.

View results at a glance (PDF, 3MB)

Download full report (PDF, 8MB)

HSBC Bank Canada Named Best Renminbi Bank

In recognition of our efforts in providing the right RMB solutions to our customers, HSBC Bank Canada has been named the country’s Best Renminbi Bank by The Asset, a leading Hong Kong-based finance publication.

Renminbi benefits for companies importing from China

With China being the world’s primary manufacturer, an ever increasing amount of goods are being imported into Canada from China. Understanding the implications and benefits of settling in renminbi (RMB) for your Chinese supplier can be a real benefit to your company.

* Create a win-win for your supply chain – If your China based supplier’s own costs are mostly in RMB, they may be willing to offer better pricing or terms in exchange for the convenience of trading in their own currency so as to reduce their foreign exchange risks.

* Consider locking in your margins – There are a range of RMB foreign exchange solutions that may be appropriate for you, so you can fix the value of your RMB payments in your home currency.

* Consider negotiating a discount in exchange for paying in advance – Your Chinese supplier may be paying for financing to fund their trade. If so, you may be able to obtain trade finance outside China priced more competitively than your supplier can access in China – creating a great opportunity to negotiate a better deal for you both.

* Understand the tax environment – Chinese exporters are entitled to an export tax rebate ranging from 0-17 percent. China’s national regulations specify no difference in tax treatment between RMB trade and other currencies. Advise your supplier to speak to their local tax office if they are unsure on this point.

Renminbi benefits for companies exporting to China

Chinese consumers are becoming increasingly demanding, looking beyond locally produced goods to niche, premium or luxury goods from outside China. This shift and the growing need for infrastructure development and raw inputs means an increased focus on China as a final destination for goods and services – creating increased consumer flows in renminbi (RMB).

* Let your buyers pay in RMB and grow market share – The ability to receive RMB payments can increase the attractiveness of your goods and services to your buyers, by eliminating their foreign exchange risk. This can result in opportunities to win new customers.

* Provide your buyers with greater financing flexibility – Offer better rates for RMB trade finance outside China than your customers can access in China. Without altering your margins, you could make your offering more attractive to your Chinese buyers.

* Enhance your borrowing opportunities – Banks in China are often more willing to issue a long-issuance letter of credit in RMB than in other currencies. Knowing this may help your buyers improve their cash flow by extending their payment terms under the letter of credit, which may provide you with an opportunity to agree on a better price.


Is your business prepared to take advantage of new global opportunities? In our webinar, hear two leading China experts discuss the latest opportunity in this thriving trade corridor.

Watch the webinar



In our latest report, Shifting Chinese Demand: New Opportunities for Canadian Companies, learn how China is rapidly evolving and how your business can benefit.

Download the report


SUMMARY: Get ahead in China's fast-moving market

Can your Canadian business meet China's growing demand? Our summary article provides the highlights so your business isn't left in the dark.

Read the article



Does shifting demand in China mean growth opportunities for your Canadian business? This infographic provides a snapshot of everything you need to know.

See the infographic (PDF, 1.44MB)


Belt and Road Initiative

What does China's Belt and Road Initiative (BRI) mean for your business? This ambitious and multi-faceted strategy aims to boost the flow of trade, capital and services between China and the rest of the world. It will also bring opportunities to businesses and sectors ranging from energy and power, transportation and telecommunications, environmental protecting and much more.

To learn more, click here (English only)

See the infographic



Your Canadian company can benefit from business in China, and we can show you how. In our latest Q&A series, HSBC experts delve into cash management and global payments in the China-Canada corridor, insights into how Canadian companies can take advantage of China’s Belt and Road initiative, RMB-related advantages your business can optimize, and how your business can capitalize on potential opportunities.

HSBC can help businesses embrace a world of opportunities. We know the way.

Let’s stay in touch so we can help your business grow.



The information presented is not meant to be comprehensive and does not constitute financial, legal, tax or other professional advice. You should not act upon the information contained in this document without first obtaining specific professional advice. While reasonable care has been taken in preparing this document, HSBC does not make any guarantee, representation or warranty (express or implied) as to its accuracy or completeness. The information presented in this document is subject to change without notice.

Certain of the products and services offered by HSBC and its subsidiaries and affiliates are subject to credit adjudication and approval. This document does not constitute an offer to provide the services and products described and the provision of such services and products remains subject to contract

How to trade with China

Chinese Currency Presents Growth Opportunity, but Canadian Companies Hesitate

With expected weakening of the RMB against the CAD dollar in 2015, contracts settled in RMB will be more attractive to Chinese buyers than those denominated in either Canadian or U.S. currency

Overcome the RMB Knowledge Gap with HSBC

Doing business in China today can seem daunting, especially if you are new to Renminbi currency transactions

Taiga takes advantage of the Renminbi

A commitment to customer service, and a willingness to deal in Chinese renminbi, has opened up a wealth of new opportunities for a British Columbia exporter.

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