Corporates across the globe continue to be impacted by the pandemic, with treasurers facing supply chain issues, business disruption challenges and revenue loss. Amidst this landscape, digitization stands out for the speed with which it is being adopted globally. Corporate treasuries from multinational corporations (MNCs), in particular, are rolling out strategies to upgrade and digitize the treasury function. For regional and global treasurers, this requires an understanding of the local market environment and nuances especially in fast-changing markets like China.
China plays a crucial role in the global operations of MNCs, with the country being a favored manufacturing hub and regional headquarters destination in Asia. The world’s second largest economy, the first among major markets to bounce back, is on track for post-pandemic economic recovery. The country, despite ongoing trade tensions and sustainability issues, remains an important growth market, particularly for Western multinationals who are looking to capitalize on this growth potential.
Moreover, China represents one of the largest and among the most promising markets when it comes to digitization. Thanks to its legions of adopters – the millions of consumers – the country is embracing technology and innovation at an unprecedented pace. Indeed, digital payments have become ubiquitous and e-commerce has become an integral part of many company’s business model, beyond the retail sector. MNC treasurers in China are also facing rapid changes brought about by new regulatory guidelines to facilitate cross-border transactions.
The Asset Events+, in association with BNP Paribas, is pleased to be hosting to explore the challenges and opportunities for multinational companies in China and discuss how they can leverage technology to improve the treasury function.