Accountancy firm LehmanBrown briefed the market, and CT, in August, outlining the key points of China’s Circular 642 covering receipts and payments linked to cross-border capital.
China-based corporates can now buy options and swaps derivatives to manage renminbi exposure. Mengniu Dairy was one of the first companies to announce a trade.
In a bid to establish itself as a prime location for regional treasury centres, the Hong Kong Monetary Authority has asked EY to survey treasurers on their needs.
Working with RBS, Sonepar has successfully implemented a cross-border renminbi cash pooling structure within the Shanghai free trade zone. The first sweep was completed from Hong kong to Shanghai.
China has finally announced details on how renminbi can be moved via the Shanghai free trade zone for current account business. Greater convergence between onshore and offshore FX curves are expected on the back of it.
CT has translated key aspects of new SAFE rulings that will now apply from anywhere in China. This should be treated as a guide only. For more explicit information, please contact a local SAFE representative or your ...
China's banking regulators are working on a plan to manage domestic bank failures; The International Accounting Standards Board has revised IAS 16 and IAS 38 calculations; and Indian banks will be allowed to sell ...