In one month, China’s foreign exchange regulator has fined 48 corporates, banks and individuals. European chemistry giant Solvay, as well as HSBC, are on the list.
Some of the world’s top companies – also including Roche, GE and others – join Swift’s global payment initiative pilot. But whether other “Swift corporates” will be able to go GPI-active remains to be seen.
ABB, GE, Honeywell and Siemens have already profited from the Belt and Road Initiative. CT tells you how to help your company do so too – while minimising the risks.
The unmet demand for trade finance services yawns widely reaching more than $1.6 trillion. The ICC concludes banks alone will not solve this desperate issue.