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The Reserve Bank of India is imposing capital and requirements and deposit restrictions on shadow banks; Bank Negara Malaysia signed an MOU with the People's Bank of China (PBOC) to implement renminbi clearing in ...
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.
HSBC was granted the power to make tax payments on behalf of its clients in Shanghai - the first foreign bank to receive it. The news could reduce the need for international companies to open accounts with local ...