China has finally announced details on how renminbi can be moved via the Shanghai free trade zone for current account business. Greater convergence between onshore and offshore FX curves are expected on the back of it.
The PBOC introduces trading in negotiable certificates of deposit; 159 countries sign the the Bali Trade package to break down trade barriers; and the FTA gives input on systemic risk in Australia.
The Shanghai Free Trade Zone (FTZ) will use special accounts to allow trade settlements and trade finance in renminbi, effectively establishing an “offshore” trade centre within its borders.
Three corporate treasurers talk about the challenges of investing surplus cash and working more effectively at keeping board members closer to the company numbers.