Shanghai FTZ to function as offshore trade centre
The Shanghai Free Trade Zone (FTZ) will use special accounts to allow trade settlements and trade finance in renminbi, effectively establishing an “offshore” trade centre within its borders.
The People’s Bank of China (PBOC) released an “opinion” on December 2 detailing financial support for the FTZ. The opinion explained how the FTZ allowed for the first time free transactions between onshore and offshore bank accounts.
Sign in to read on!
Registered users get 2 free articles in 30 days.
Subscribers have full unlimited access to CorporateTreasurer.
Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.
If you are a treasurer, CFO or senior professional at a corporate or SME, please register for free VIP access here.
Questions?
See here for more information on licences and prices, or contact [email protected].
© Haymarket Media Limited. All rights reserved.
Top news, insights and analysis every Tuesday & Thursday
Free registration gives you access to our email newsletters
for unlimited access to all articles, newsletters
