Chinese Companies’ Overseas Push Drives Demand for Localized Finance
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Chinese companies are accelerating their regional integration in Southeast Asia, adapting to revived U.S. trade restrictions with increasingly sophisticated, multi-currency financial strategies, according to an executive at Standard Chartered PLC.
The shift reflects how Chinese manufacturers are evolving from traditional exporters into builders of regionally integrated supply chains across the Association of Southeast Asian Nations (ASEAN). The trend gained momentum following the rollout of U.S. President Donald Trump’s “reciprocal tariff” policy in April 2025, said Grace Shen, an executive director at Standard Chartered Bank.
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- Chinese firms in Southeast Asia are building integrated supply chains and using advanced, multi-currency financial strategies to adapt to revived U.S. trade restrictions.
- The yuan's role in ASEAN trade is increasing, as seen in Standard Chartered’s $151 million dual-currency loan in Indonesia in December 2025.
- Competition in Southeast Asia’s corporate finance market is intensifying, with local ASEAN banks entering syndicated lending and custom financing.
- Standard Chartered PLC
- Standard Chartered PLC observes Chinese companies adapting to renewed US trade restrictions under President Donald Trump by adopting multi-currency financial strategies. These companies are building regionally integrated supply chains across ASEAN. Standard Chartered offers advanced financial services, including currency hedging, and facilitated the first onshore syndicated loan in Indonesia with a yuan component, reflecting the yuan's increasing role in regional finance.
- ZC Rubber Group Co. Ltd.
- ZC Rubber Group Co. Ltd. (中策橡胶集团有限公司) is a Chinese company. One of its subsidiaries in Indonesia received a dual-currency syndicated loan in December 2025. This financing package, arranged by Standard Chartered, included both USD and yuan components, marking it as the first onshore syndicated loan in Indonesia to incorporate the Chinese currency.
- Late 2023：
- Standard Chartered Hong Kong became a direct participant in China’s Cross-border Interbank Payment System (CIPS), enabling near-instant yuan settlements.
- Late 2024：
- Chinese companies' transition toward localized and diversified strategies in Southeast Asia picked up speed.
- April 2025：
- U.S. President Donald Trump’s 'reciprocal tariff' policy was rolled out, accelerating the regional integration efforts of Chinese manufacturers in Southeast Asia.
- December 2025：
- Standard Chartered arranged the first ever onshore syndicated loan in Indonesia to include a yuan component, providing a dual-currency package for a ZC Rubber Group Co. Ltd. subsidiary.
- As of 2026：
- Standard Chartered routinely conducts ‘back-to-back’ transactions out of Singapore to support Malaysian operations, and competition from local ASEAN banks in syndicated lending intensified.
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