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Banks disagree on the foreign exchange implications of the PBOC’s announcement of a wider renminbi trading band, but advise SMEs to switch to invoicing in renminbi.
Standard Chartered Bank has arranged a 10-year fixed renminbi cross-currency swap based on Hibor for an undisclosed client, highlighting the rapid development of the offshore renminbi market.
CT takes a closer look at the Kunshan pilot programme, a cross-strait, renminbi-lending plan aimed at easing investment and renminbi cash management from Taiwan.