Sources confirm access to onshore CNY rates will be available offshore to companies within two weeks, reducing the need for them to open onshore accounts.
China’s top policymaker turns on the tap (again) for companies to sweep renminbi funds across borders via two-way renminbi cash pooling ... though it's not entirely clear how this differs from the existing regime.
China puts outbound trade payments under the microscope in bid to tackle illegal foreign exchange transactions. For treasurers, it means more work to comply and big risks for those that fail to do so.
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.
With CBRC approval, the Chinese power generator’s in-house bank completes supply chain financing transactions involving both its own entity and a third party.