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Letters of credit may be a necessary evil that prolongs the trade process, but financial regulators in the two cities are pushing blockchain as a way to solve an old problem.
While the People’s Bank of China hopes cuts to its reserve rate ratio will inject liquidity into the SME market, the fundamentals still weigh heavily against it.
Non-listed companies with turnover of up to HK$100 million will have their credit information shared by lenders. That could push borrowing costs down – or up.
For treasurers at the centre of China’s efforts to cool the bubbling property sector, offshore yields are now so attractive they outweigh the problem of foreign exchange restrictions
In China, where fintech is already ubiquitous, one company has set its sights on serving millions of SMEs neglected by the existing supply chain finance system.
