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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.
US multinational approved to tap the PBOC’s extended pilot programme for cross-border RMB intercompany lending.
MNCs tell CT how they are taking advantage of pilot programs in China to repatriate trapped renminbi and streamline cash management.
Cui Dachao, CFO of CAG, provider of railway signaling and safety systems, on bonds, trade settlement, and cash flow.
After its August debut of sole-branded credit cards in China, the US bank is venturing into corporate credit payments for large firms
Global remittance giant Western Union has reported wider use of the renminbi for payments to Chinese companies and exporters.
US card giants have long criticised China UnionPay for monopolising the country's payment market.