Adrian MurdochAlex DavisAlex Davis Alison Tudor-AckroydAmerican Express Amy RotmanAnn ShiANZ Bank of China (Hong Kong) Baron LaudermilkBen HurleyBenny KungBernice CornforthBlack Swan BlackRock Bloomberg BNP Paribas Broadridge Financial Solutions Cabot Corporation Carol HuangCathy AdamsCherie MarriottChris WrightChristopher ChuCiti Clipper Colin WaughCo-Published ChapterCorporateTreasurer EditorsCT Staff Dan BlandDaniel FlattDanny LeungDBS Elizabeth UtleyEmma BiFA ReportersFinanceAsia EditorsHan Shih Toh Hang Seng Bank Honnus CheungHSBC I-Ching NgiGTB Ingrid PiperJ.P. MorganJ.P. Morgan Jackie HorneJame DiBiasioJane CooperJill MaoJP Morgan Asset Management Kerry LiuKVB Kunlun Kyriba Larissa Ku LendingStarMark AgnewMark Agnew xMarvin ZouMatthew KnightMatthew ThomasNick LordPeter ShadboltPhani KumarPhani Kumar Ray ChanRefinitiv Richard MorrowRupert WalkerSam MacphersonShruti ChaturvediSMBC Solomon TeagueStandard Chartered BankState Bank of India Steve DunthorneSuhas BhatSuhas Bhat The EditorsThomson Reuters TMF GroupTMF Group Tsering NamgyalUnited Overseas Bank (Malaysia) Vincent MorkriVisa Westpac
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.
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.
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.
By adopting a new supplier-financing programme, the Chinese wind power generator is giving its suppliers the flexibility to get paid up to 270 days earlier.
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.
The new renminbi basket has a lower weighting for the US dollar, but the new fix and spot rates against the dollar could mean greater volatility, analysts warn.
Corporates face curbs on 'irrational' outbound deals and stronger scrutiny of big-ticket FX transactions under the capital account, regulators confirm.
As government regulators try to stem capital outflows, big-ticket FX purchases and settlements under corporate capital account items face tougher scrutiny.
