Johnson Matthey’s two-way cross-border RMB sweep
Julian Tasker, the UK firm’s group treasurer, explains why it set up an automated pool from China to the UK via Hong Kong.
In January this year, London headquartered chemicals and engineering company Johnson Matthey hooked up a renminbi cross-border two-way sweeping structure with one of its China subsidiaries based in Shanghai but not located in the free-trade zone (FTZ).
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