PNC China

Resources for Business Success in China.

How PNC Can Help You Succeed in China

China is a key trading counterparty for many countries and is an important market for many companies around the world. As the economic influence of China and its currency – the renminbi (RMB) – on international commerce grows, PNC offers solutions and resources to help you succeed in this vital market.

We can help you take advantage of the growing role of the RMB in international trade with hedging tools and payment options to help you manage risk, improve your competitive position, and increase profitability. In addition, PNC’s Shanghai Representative Office provides support and insight to help U.S. companies navigate the day-to-day challenges of doing business in a changing China.

A Strategic Approach to Your China Business

According to SWIFT, renminbi is currently the fifth largest global payments currency, making it an increasingly significant component of international trade.[1]

Pay in local currency to potentially lower your costs and improve payment terms.

  • The administrative cost of paying in US dollars can be 2% to 3% higher than dealing in local currency.
  • Suppliers who invoice in renminbi no longer have to build in a buffer for potential exchange rate movements.
  • A highly liquid renminbi forward market facilitates hedging your currency risk.
  • Easily use renminbi in payments in and out of China.
  • Make spot and forward payments in renminbi.
  • Purchase and sell renminbi on behalf of companies doing business in China.
  • Structure deliverable forward hedges denominated in renminbi for payment into mainland China.

Take advantage of cost reduction while managing currency risk.

  • Increase the effectiveness and decrease the overall cost of hedging with deliverable forward and option strategies.
  • Manage onshore renminbi (CNY) exposures through non-deliverable forwards.
  • Hedge renminbi payables or receivables readily in a highly liquid market to keep the cost of hedging low.

Solutions to Help You Succeed

PNC Multicurrency Accounts

PNC's multicurrency accounts can help you make it easy to manage and move money denominated in different currencies without the need to open accounts with foreign banks.

  • Streamline your Chinese cash flow by setting up a demand deposit account (DDA) that holds Chinese renminbi instead of U.S dollars.
  • Easily view deposit and withdrawal details through PINACLE®, PNC's top-rated online corporate banking portal.

PNC’s Import & Export Services

Support and simplify your international commercial goods purchases and sales. PNC’s Import and Export services can help you:

  • Streamline document exchange.
  • Reduce payment or collection risks.
  • Facilitate your financial transactions.



RMB Payments Capability

PNC offers the ability to initiate and receive cross-border payments in the RMB currency.

  • RMB payments may be initiated from and received into a USD demand deposit account or PNC multi-currency accounts, including in the RMB currency.
  • Foreign Exchange hedging solutions are available to mitigate risk associated with currency fluctuations.

China Banking Referrals

PNC can help you open and manage accounts with a local banking institution in China.

  • PNC can facilitate introductions for in-country accounts that are handled directly between client and foreign bank.
  • Our team serves as the intermediary between you and the member bank and can assist you with understanding the process and completing the documentation.

Deep Local Knowledge

PNC’s Shanghai Representative Office provides on-the-ground insight and support to help U.S. companies navigate the day-to-day challenges of doing business in China. Individuals with deep local knowledge and fluency in both English and Mandarin can:

  • Provide guidance with selecting and opening local bank accounts and with advice on the process and intricacies of obtaining financing from banks in China
  • Provide guidance on China's banking regulations and market/business environment.
  • Setup introductions to local government and industrial zone officials, development offices, banks, accounting and law firms, the State Administration of Foreign Exchange (SAFE) and other local resources.
  • Deliver business news/updates and in-depth analyses on key economic news and development.
  • Help to connect you with parties that can assist with banking- or China-related issues, including status of wire transfers, documentary collections, and standby letters of credit by utilizing existing correspondent banks networks and contacts.

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Preguntas frecuentes

PNC Shanghai Representative Office

Grace Zhu
Chief Representative

Jenny Xu
Deputy Representative


PNC’s Shanghai Representative Office: