China's BMW dealer opens up on cross-border sweeping in the Shanghai FTZ

Baoxin Auto has greatly increased its liquidity through non-quota based renminbi two-way cross-border sweeping in the Shanghai free trade zone (FTZ).

By Emma Bi

Mar 3, 2014

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Chinese automobile sales and service group Baoxin Auto Group has, in partnership with Standard Chartered Bank, put in place a structure and platform to sweep its own cash in and out of Shanghai header accounts without limits on amounts or tenors.

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