China backs away from new e-commerce rules; China clarifies tax position for foreign bond holders; AML probe deepens on Japanese bank; RBA takes aim at bank profits; MAS grants first private securities platform licence
Taiwanese SMEs lost an estimated $6.6 billion in TRF (targeted redemption forwards) after the renminbi’s devaluation in 2015. The question now is who will pay back this money?
From today Chinese financial institutions no longer have to set aside 20 per cent of the value of dollar purchases. For treasurers, that means lower costs and an opportunity to hedge.