OREANDA-NEWS. January 18, 2013. Recently, the Global Cash Management Service Center (hereinafter "the Center") of Agricultural Bank of China Limited (ABC) was officially opened in Hong Kong. The global cash management business for nine multinational corporations including China Chengtong Development Group Ltd. was launched simultaneously in the Center, reported the press-centre of ABC.

The establishment of the Center is a significant breakthrough in the implementation of ABC's development strategy of "international development and diversified services". It also indicates that the cash management business of ABC has gone globally and staged on a higher development platform. Establishing the Center in Hong Kong is not only conducive to ABC's customer marketing, business development and international development of its cash management service, but also good for coordinated development of the fee-based business, liability business and assets business of the Hong Kong Branch.

In recent years, with the global economic and financial integration and the booming of foreign investments, enterprises' demand for cross-border treasury management is increasing. With keen insight into the market trends and customer needs, ABC launched the global cash management service in April this year. The establishment of the Center has enabled ABC to capitalize on Hong Kong's unique advantages as a financial free port, to bring the domestic-overseas business collaboration into play. As a key support node of the global cash management service network of ABC, the Center helps to expand the application of the domestic-overseas two-way cash management service mode.

The Center conducts business marketing and provides services through close cooperation with branches at home and abroad. As ABC's operation and service department of cash management business in Hong Kong, the Center assumes the functions of marketing and providing services to customers of the headquarters or regional headquarters of Chinese-funded and foreign multinational corporations operating in Hong Kong. Meanwhile, as the overseas coordination institution of ABC, it is at the service of large or medium-sized multinational corporations located in Hong Kong or neighboring countries and regions. It is also responsible for coordinating the operation of overseas fund pools and cash management business at home and abroad.

Major functions of the Center include: conduct customer marketing and serve the customers, and provide cross-border cash management services to Chinese-funded and foreign multinational corporations located in Hong Kong and foreign-invested and "going global" enterprises in China; develop systems and products for cash management business in Hong Kong and launch cash management business for customers; take charge of the operation and management of overseas fund pools, by relying on economic, financial and policy advantages of Hong Kong; study and carry out the joint operation of domestic and overseas fund pools according to the policies on foreign exchange management and cross-border trade both at home and abroad; establish a sound after-sales customer service mechanism of cash management to deal with customer feedbacks; monitor abnormal cash management transactions of customers, make customer analysis and gather data on customer needs.