Beware political risk on RMB; India promotes fintech innovation; Malaysia releases fresh guidelines for anti-money laundering; Thai central bank throws weight behind ESG
At CT’s Shenzhen-based treasury conference, the central banks of Hong Kong and Singapore outline their treasury centre strategies for China’s aspirational corporates.
In what could be seen as a move against Hong Kong’s recent push to attract Chinese and MNCs to its shore, Singapore delivered a surprise cut to its concessionary tax rate for treasury centres located in the Lion City.
Companies setting up treasury centres in Hong Kong could be given greater scope to benefit from half-rate tax concessions, CT has learnt. However, it seems, the regulators are keen for companies to set up legal ...