Dover Corporation and Roche China are ready to take advantage of currency liberalisation from the Shanghai Free Trade Zone (FTZ) through two-way renminbi sweeping.
Siemens, Alibaba, Huawei and ZTE are all in the second batch of SAFE’s pilot for cross-border FX cash sweeping, netting and centralised payments transactions, CT has learnt.
CT delivers a comprehensive overview of the four renminbi and foreign currency cash management pilots that have been green lighted in Beijing and Shanghai.
Aside from PBOC's earlier pilot allowing renminbi inter-company loans, tech firm Intel is poised to tap another trial enabling select companies to realise cross-border foreign currencies sweeping from China.