Deputy governor of China's central bank offers assurances and a plan for currency convertibility. While the RMB capital market has seen its pricing advantage ebb away, analysts expect it to open up.
China puts outbound trade payments under the microscope in bid to tackle illegal foreign exchange transactions. For treasurers, it means more work to comply and big risks for those that fail to do so.
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.