The service enables Chinese businesses to receive payments through local clearing systems– a cheaper option than setting up foreign accounts. The HSBC virtual account solution also enables Chinese businesses trading… read more →

Hong Kong’s role as a conduit for international investment into mainland China has reached new heights, with cross-border trading volumes hitting record levels in 2024.  “Hong Kong is that rare… read more →

It’s hard to ignore the continued growth and influence coming out of Asia for trade. Asia’s trade growth continues to surge, with the Asian Development Bank (ADB) forecasting 5% growth in 2024, driven by strong domestic demand and recovering exports. Regional integration and modern trade agreements are enhancing resilience in key sectors like food and technology. Asia also benefits from rising demand for tech exports, particularly semiconductors, driven by AI. However, risks such as geopolitical tensions and protectionism remain.

Transactions between Europe and China using trade finance documents like Letters of Credit, Documentary Collections, or Open Account terms, which used to be paper-based and take as long as two… read more →

According to recent data from the State Administration of Foreign Exchange, the renminbi’s use in China’s cross-border transactions has hit an all-time high. In July 2024, 53% of China’s inbound and outbound transactions were conducted using the renminbi, surpassing the US dollar in China’s international receipts.

There are few regions as pivotal to global trade as the Middle East. The petroleum-rich area is the source of roughly one-third of the world’s oil production. When geopolitical tensions in the Middle East force up oil prices, the whole world catches a cold. 

On Wednesday, the European Union announced a 17-38%  tariff on Chinese electric vehicles. The tariffs will be introduced by law on 4 July.

Navigating the evolving landscape of supply chain finance in the wake of COVID-19 and geopolitical tensions. Explore key insights from industry experts at the International Finance Corporation’s (IFC) Global Trade Partners Meeting in Barcelona.

In the first quarter of this year, Korea’s exports to the United States exceeded those to China for the first time since the second quarter of 2003.

Supply chains have become global and increasing complexities have made them brittle and dependent, rather than robust and resilient; Covid-19 is a prime example of this.