Hong Kong's draft rules on base erosion and profit shifting – perhaps the biggest shake-up of the corporate tax system since the 1940s – go too far, according to businesses in the city.
Companies in China are more confident than they’ve been for five years, according to the latest survey. But going forward, will the picture always remain this rosy?
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.