OREANDA-NEWS. February 05, 2014. As Chinese enterprises gather pace to "go global" in recent years, demand has surged to allocate and manage company funds around the world. In light of this, ICBC provides "one-stop" cash management services worldwide for Chinese enterprises to do business across the globe and compete in international market. ICBC's global cash management services are available in almost 50 countries/territories and used by over 3800 multinational corporations, according to the data as at the end of 2013.

The global cash management is a full spectrum of services involving global account management, collection and disbursement, liquidity management, as well as information, investment, and financing. ICBC’s global network and partner banks use ICBC’s fund settlement network across the globe to support customers’ cash management across borders. ICBC launched global cash management services in 2009, the first Chinese bank to roll out such service. Today, ICBC global cash management service has developed into a diversified, convenient and high value-added system covering global account opening, payment authorization, MT940 statement, account inquiry, service for overseas employees, centralized payment and cash pool.

In 2013, by following up with the requirement from multinational corporations for centralized capital management and latest policies on cross-border capital flows, ICBC took the early move to optimize workflow and system to help clients set up USD cross-border cash pool and directly connect to SWIFT headquarters. For example, a multinational company has offices in 27 countries and needs to manage a large number of accounts. For this customer, ICBC designed a global cash management system to connect their accounts between headquarters and overseas branches through SWIFT. In this way, the customer can manage risk and oversee the management of the working capital cash in all accounts within the Group.

To enhance global customer service, based on optimized overseas network., ICBC successively established Asia Pacific Cash Management Center, China-Africa cash management platform, European Cash Management Center and American Cash Management Center, developing a 3-tier service structure comprising "Head Office - Regional Centers - Global Branches" spanning Asia Pacific, Africa, Europe and America. Meanwhile, ICBC has further strengthened cash management service coverage by working with over 30 foreign banks in major financial centers and regions where  Chinese companies abound.