Wealth management products are rapidly gaining popularity among Chinese corporates who are otherwise hesitant to use spare cash on capex. But the runaway growth of WMPs is potentially dangerous for the Chinese ...
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.
The IMF could announce this week whether it wants to add renminbi to the special drawing rights basket of currencies. Some banks are betting that China has done enough.
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.