Surveys show 74% of corporates with renminbi exposures cite CIPS delays as their most important regulatory concern, while others identify deregulation.
Basel III proposals requiring banks to report intra-day liquidity will severely stifle correspondent relationships, but the infrastructure could be valuable to companies.
StanChart and Baoxin Group; HSBC and Saint-Gobain; and Citi and Roche have announced new cash programmes relating to pooling and netting in the Shanghai free trade zone following central bank clarifications.
Siemens, Alibaba, Huawei and ZTE are all in the second batch of SAFE’s pilot for cross-border FX cash sweeping, netting and centralised payments transactions, CT has learnt.
China’s central bank has lifted a host of restrictions designed to make renminbi cross-border trade settlement easier to conduct, while at the same time announced new measures to promote greater offshore renminbi ...