China’s BMW dealer breaks new ground in the FTZ
Mar 23, 2015
China's BMW dealer opens up on cross-border sweeping in the Shanghai FTZ
Baoxin Auto has greatly increased its liquidity through non-quota based renminbi two-way cross-border sweeping in the Shanghai free trade zone (FTZ).
Chinese automobile sales and service group Baoxin Auto Group has, in partnership with Standard Chartered Bank, put in place a structure and platform to sweep its own cash in and out of Shanghai header accounts without limits on amounts or tenors.
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