StanChart teams with China for trade roadshow

Copying and distributing are prohibited without permission of the publisher

10 March 2010

Standard Chartered Bank has teamed with Chinese officials for a trade delegation to promote renminbi trade settlement in Malaysia, Thailand and Singapore.

Standard Chartered Bank will form a delegation with officials from the Shanghai Municipal Office of Finance Service, People’s Bank of China (PBOC) and State Administration of Foreign Exchange (SAFE) Shanghai for a series of roadshows this month to promote the renminbi trade settlement programme.

The tour will host events in Malaysia, Thailand and Singapore and is the first time that officials from government and regulatory bodies in China are partnering with an international bank on a roadshow.

Aimed...

You must be logged in to view this page. If you are already a registered user please log in. Alternatively, you can request a free trial or subscribe.

Already have an account?

Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Free trial

Taking a free trial will give you access to the current issue for two weeks (excluding some surveys and articles). Start your free trial today.

Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%