HSBC was granted the power to make tax payments on behalf of its clients in Shanghai - the first foreign bank to receive it. The news could reduce the need for international companies to open accounts with local ...
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.
US-listed Moog Inc, a designer and maker of precision control systems, is the latest addition to a handful of MNCs granted a quota from China’s central bank to make cross-border renminbi intercompany loans.
The US car maker has received PBOC's approval to lend money out of China with the end goal to help its headquarters in Michigan to settle Chinese supplier payments in renminbi.
As Chinese contractors win more bids to build infrastructure projects offshore, bankers at Societe Generale are detecting an uptick in performance bonds being issued in renminbi.
Global trade flow volumes have declined in 2012, dwindling to $37.7 billion and registering 217 deals in the year. This is down from $40.5 billion and 593 deals recorded in 2011.