• Trading in China

    If you’re importing from, or exporting to, China, your business needs to be able to trade in one of the world’s key currencies, the Renminbi (RMB).

    The growth of the RMB internationally has created many opportunities for importers and exporters. At Lloyds Bank we offer a full range of RMB services to help you when trading with China.

    Renminbi solutions

    Payments capability

    Payments can be made on your behalf to mainland China and to offshore accounts.

    RMB currency accounts

    RMB currency accounts allow you to receive and hold Renminbi, pending currency conversion or subsequent outward payment.

    Foreign exchange facilities

    Manage currency risk, transact spot deals and bespoke currency risk management trades. We’ll work with you to develop a risk approach that works for your business.

    RMB trade solutions

    For importers

    • If your Chinese supplier requires an RMB-denominated import letter of credit*, we’ll issue it locally. This solution provides you with the benefit of in-country document handling and checking.
    • We can process RMB-denominated inbound documentary collections.
    • We’ll provide RMB-denominated import loans* for agreed terms linked to your trading cycle.

    For exporters

    • If you’ve arranged a letter of credit with your Chinese customer, our UK-based dedicated exporter support team will work alongside you to maximise the financial benefits and eliminate country, counterparty and bank risks.
    • We can process RMB-denominated outbound documentary collections.
    • We’ll provide RMB-denominated export loans* and discounts (i.e. make early payment on) bills of exchange accepted by Chinese importers and guaranteed by their bank.
    • To help you win contracts in China, we’ll provide a full range of contract bonds and guarantees, including bid and performance bonds* and advance payment guarantees.

    For further information, please see our dedicated factsheet or speak to your local relationship manager.
    Further information can also be found in our guide to Foreign Currency.

    *Subject to status.

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    For more information, contact your local relationship director or use our online directory.

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Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Telephone: 0207 626 1500.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 119278.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.