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The central bank is now making it easier for renminbi to be remitted, but conditions still apply. Treasurers in China are, however, holding fire until more information is available, CT understands.
Safe relaxes onshore FX settlement to encourage the use of offshore funds and tightens outbound lending in a bid to bring capital back onshore. It also clarifies reporting requirements.
Corporates face curbs on 'irrational' outbound deals and stronger scrutiny of big-ticket FX transactions under the capital account, regulators confirm.