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.
The discrepancy between China and Hong Kong's export/import data has narrowed to $6.3 billion in June after China's FX regulator started targeting fishy trade invoicing in April.
J.P. Morgan has provided its clients with advice on how to get the green light from the People’s Bank of China (PBOC) to conduct a cross-border renminbi intercompany loan. Here is a précis of the guidance:
CT has established an interactive treasury webcast service. With access to exclusive, upcoming interactive events, treasurers can watch and listen in live or download the archive of webcasts at a convenient time.
The Hong Kong Monetary Authority (HKMA) and the Treasury Markets Association (TMA) both announced plans that could further open up the marketplace for offshore renminbi in Hong Kong.