The central bank is now making it easier for renminbi to be remitted, but conditions still apply. Treasurers in China are, however, holding fire until more information is available, CT understands.
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.