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.
The new renminbi basket has a lower weighting for the US dollar, but the new fix and spot rates against the dollar could mean greater volatility, analysts warn.
Surveys show 74% of corporates with renminbi exposures cite CIPS delays as their most important regulatory concern, while others identify deregulation.
Amid a host of anti-money laundering regulations, lenders are tightening the screws on cross-border payments. Treasurers in Hong Kong, for example, are being requested to supply detailed information on beneficiaries ...
Dodgy-looking cash transactions surge 29% in Hong Kong. Police have attributed the jump to "improved awareness" from financial institutions since anti-laundering laws kicked in in April.