China’s X-border transaction curbs are hindering companies that want to pay off debt offshore and increasing their appetite for X-border guarantee financing. But firms must play nice and not step across the line.
*CFETS announces list of participants allowed in interbank RMB trading
*China issues rules to clean up P2P lending
*MAS proposes National Payment Council
*RBI announces rules on group exposure framework
*Chongqing and Singapore to seal deals worth $1.6 bln under third X-border initiative
*Indonesia eyes CCP establishment for derivatives by 2018
*China eases FTZ investment rules
*Safe lifts time restrictions on converting renminbi
*Malaysia and Australia combine for fintech
*Malaysia introduces new method for USD/MYR spot fixing
*FASB announces accounting rule update
Both China and Hong Kong are attempting to tackle businesses that have deliberately mis-invoiced goods traded across the border to sneak money offshore.
A huge fraud case reported by China’s Bank of Tianjin under its bill financing business has cast a larger shadow over trade finance governance in the country.