Deutsche Bank China Co., Ltd. today announced its appointment as cash management bank by OSRAM, a leading lighting manufacturer headquartered in Germany. The Bank is providing payments & collections services both in foreign currency and Renminbi, as well as liquidity management services to OSRAM in Mainland China as part of their global liquidity management structure.

Deutsche Bank:

• have seamlessly consolidated the cash management flows of six local OSRAM entities
• have set up a domestic RMB cash pool structure for its daily operations 
• are providing a two-way RMB cross-border cash pooling service to OSRAM in Guangzhou
• are also providing e-Doc and e-BOP solutions for straight-through paperless cross-border payments from Mainland China

Dr. Andreas Neeb, Head of Subsidiary Finance at OSRAM GmbH, commented: “We found that the Bank’s understanding of the local market and expertise in RMB cash management to be extremely valuable to our business. We look forward to continuing to work with Deutsche Bank globally.”

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CTMfile take: This cash management solution shows how far cash management in China has developed over the last 4-5 years and how it is now possible to integrate China/RMB flows into a global cash management solution. It also shows how the global banks have been able to understand and fit in with the local market conditions.