China is at the vanguard of the new payments revolution and nowhere is set to feel the pain more than China’s banks. A new report outlines just how deeply new fintech is cutting into China’s bank revenues
Deutsche Post DHL treasurer Carola Schmitz-Becker is no stranger to efficiency concerns. Being able to receive payments instantaneously has shifted her focus towards improving the group’s e-commerce offerings.
The IMF has endorsed the renminbi as a freely usable currency, recognising China’s increased importance in the global financial market. The renminbi’s journey to attaining this status was never straightforward.