Sources confirm access to onshore CNY rates will be available offshore to companies within two weeks, reducing the need for them to open onshore accounts.
Pacific Andes, once the world's biggest fish filleter, suspected by New York bankruptcy trustee of using cash raised to buy fish to fund $800 million takeover. The group denies the claim.
China's central bank hopes beefing up a central registration system will lead to an injection of working capital for SMEs. Here's why it could instead cost companies big.
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.
Chinese lenders could undergo a liquidity crunch as the central bank incorporates wealth management products as part of its regular credit assessment, CICC warns.
With CBRC approval, the Chinese power generator’s in-house bank completes supply chain financing transactions involving both its own entity and a third party.