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About us

  • Dedicated team to provide tailored end-to-end solutions that maximise business opportunities and minimise risk
  • Relationship – expertise to help you navigate the reforms and use of Renminbi (RMB) to deepen trade and investment with China
  • Service – we have local, regional and international coverage and a dedicated team to assist you to understand the solutions available when dealing across the corridor and the benefits associated with using RMB as a trade and investment currency
  • Entire suite of RMB products from opening RMB accounts, using RMB as a settlement currency, hedge and risk management of RMB exposures.
  • 24-hour pricing across our range of Foreign Exchange & Interest Rate products.
  • Online trading of RMB conveniently and securely using CommBiz Markets. CommBiz Markets is a module within our awarding winning online banking platform CommBiz

Guide to dealing in the RMB

Doing business in the RMB is easier than you think. Select one or two of the videos below which are relevant to your business and see for yourself.

If you’re an Australian company exporting goods or services to China.

If you’re an Australian company importing goods or services from China.

For businesses concerned with cross boarder liquidity and capital management.

Case studies

Fashion brand Forcast plans Asian expansion

Fashion brand Forcast plans Asian expansion

Forcast launched in 1992 as a wholesaler of women’s fashion and expanded into retail in 2005.

Group GSA

Group GSA

China’s massive government-led urbanisation drive is enabling Group GSA to see enormous opportunities.

Macrolink embraces opportunities in Australia

Macrolink embraces opportunities in Australia

Chinese real estate and mining consortium Macrolink Group has flourished since it was founded 26 years ago.

FAQs

Importers can benefit in three ways; from improving better pricing terms with Chinese suppliers; widening the supplier base to companies who cannot accept foreign currency payments in China; to better payment terms with extensions of settlement to 210 days.

Exporters can benefit in three ways; from selling their products to a larger client base that only want to settle using RMB; and from better pricing through hedging RMB exposure at a lower cost to improved working capital.

The most common methods used by corporates are: Overseas Direct Investments (ODI); Intercompany Loans or Intercompany Cross-border Guarantees.

Foreign currency risk arises when there is fluctuation in the exchange rate which affects the ultimate value of your transaction in your base currency. CBA’s Foreign Exchange Team can provide you with a range of solutions, tailored to your business’s strategic, operational and hedging requirements.

Things you should know:
As this advice has been prepared without considering your objectives financial situation or needs, you should, before acting on this advice, consider its appropriateness to your circumstances. As individual circumstances differ, you should seek appropriate professional or financial advice. View the Terms and Conditions issued by Commonwealth Bank of Australia for Foreign Currency Account, and consider it before making any decision about this product.  View our Financial Services Guide.