Companies jump at new Singapore-Suzhou RMB initiative

Technoform raised a Rmb10 million loan from ICBC in a Chinese-Singaporean pilot initiative that bypasses foreign debt quotas. At least four other companies are following suit.

By Emma Bi

Jun 23, 2014

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Technoform Bautec, a German insulation product manufacturer with its regional headquarters in Singapore, is the first company to transact a cross-border renminbi loan from the Lion City to the Suzhou Industrial Park (SIP).

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