ANALYSIS: China opens the cash tap
MNCs tell CT how they are taking advantage of pilot programs in China to repatriate trapped renminbi and streamline cash management.
The People’s Bank of China (PBOC) and the State Administration of Foreign Exchange (Safe) have launched pilot programmes to help multinational corporate treasurers repatriate surplus renminbi and better manage foreign exchange. Together these programmes mark an important step in China’s easing of controls on the flow of capital and management of trade balances.
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