In a first for the country's banks, one of China's big-four lenders taps fintech to provide a loan online. The bank says using technology will offer businesses in the agriculture sector easier access to liquidity.
Treasurers tell CT what a return to the reserve requirement on forward trading – which puts the brakes on renminbi-US dollar forwards – will mean for their operations.
China's decision to reduce bank reserve requirements, the third such move this year, surprised no one. But the timing and nature of the latest cut are clearly linked to the risk of a trade war.
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.