Chinalco sets up Hong Kong treasury centre for offshore funds
SingTao · 3 SOURCESabout 1 hour ago5 MIN
Summary
China Aluminium Corporation Group has established a corporate treasury centre in Hong Kong, named Chinalco Treasury Management Co., as its offshore fund management platform. The new entity will handle centralised offshore cash management, offshore financing, foreign-exchange and interest-rate risk management, and integrated financial services for the group.
Key Points
- Invest Hong Kong announced on 23 October that China Aluminium Corporation Group Limited had set up Chinalco Treasury Management Co. in Hong Kong as a corporate treasury centre.
- The platform will oversee centralised offshore fund management, offshore financing, exchange-rate and interest-rate risk management, and broader financial services for the group.
- Director-General of Investment Promotion Alpha Lau Hai-suen said Hong Kong, as the world’s largest offshore renminbi hub, offers cross-border settlement, multi-currency cash management and hedging capabilities.
- Lau said the government’s Hong Kong Corporate Treasury Centres Development Action Plan, together with tax reforms and a wider double-taxation treaty network, would strengthen competitiveness
- Chinalco chief accountant Wang Xin (王欣) said the group’s deepening overseas industrial footprint required an efficient platform; he cited Hong Kong’s world No. 4 foreign-exchange market and established renminbi financing channels.
Why It Matters
For Hong Kong, the project adds another large mainland state-owned enterprise to its treasury-centre base and supports the city’s push to expand renminbi financing and commodity-related financial services. Invest Hong Kong also said it hopes Chinalco will use the treasury centre as a starting point to add commodity trading functions in the city, linking pricing, settlement, financing and warehousing with the group’s industrial operations.