Tie-ups for agile treasury management
Print Edition
Chinese companies should ensure their treasury management business stay agile in the digital era and offer multi-dimensional value by partnering with banks and other professional institutions, says a white paper done by China Merchants Bank and EY.
The scope of treasury management includes commercial banking products, domestic and cross-border payments, professional risk mitigation for international trade, and the provision of trust, agency, depository, custody and related services.
The rapid development of technology has spurred Chinese firms to do business differently and this calls for their cash management to be adapted, said Shi Shunhua, president of corporate banking at Shenzhen-based CMB.
To cope with the ever-changing business models and a challenging external environment, companies should become more agile in their cash management by working with external partners, the China Corporate Treasury Management White Paper 2018 said.
Banks and other professional institutions will help firms develop their money management capabilities in data operation, financial resources integration, technological innovation, organizational operation and talent cultivation, the white paper said.
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