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 X-border transaction curbs are hindering companies that want to pay off debt offshore and increasing their appetite for X-border guarantee financing. But firms must play nice and not step across the line.
Transitioning onto the nation’s electronic system can save treasurers in China from a massive paper hunt, but the banking industry needs to be ready first.
China has eased restrictions on Chinese non-financial corporations (corporates) looking to raise funds overseas, but market conditions mean they are unlikely to embrace the opportunity.
With the increasing liberalisation of renminbi, corporates such as IKEA are using it for trade settlement, treasury currency, as well as an investment instrument.