It's like nothing China's treasurers have seen in the past 10 years; a toxic combination of defaults, US rate hikes, a downturn at home, regulatory interference and trade tensions are killing bond issuance.
A 20% reserve requirement set by Chinese regulators on dollar/Rmb forward contracts has an instant impact. As predicted, futures contracts are moving offshore.
Treasurers tell CT what a return to the reserve requirement on forward trading – which puts the brakes on renminbi-US dollar forwards – will mean for their operations.
China has been pushing for more Panda issuance, and a Hong Kong-listed water supply company has delivered despite not holding the top credit rating. It explains how and why.
Notional cash pooling avoids the physical transfer of foreign exchange, reducing FX risk. The US tech manufacturer's Yvione Zhou explains how it works in Asia.
If you want to see IFRS in action, look no further than the estimated $100bn Xiaomi mega-IPO. The Chinese tech giant's growth in value can look like accumulated losses depending on your accounting standard.
Eric Chow, treasurer at the Hong Kong and China Gas Company, reveals everything you need to know about issuing green bonds when you’re a fossil-fuel-burning company.
Tourists are opting for cards over cash in hand as Safe clamps down on big-money withdrawals from ATMs. For casinos and for smaller businesses, the impact could be big.
It’s said the secret to a good relationship is never having an opinion – and it seems the same applies to hedging. One of Hong Kong’s most successful funds tells CT how to get hedging right.