How Huawei bypasses banks to get better RMB prices
The China-based multinational can now bypass banks and get the best onshore rates for renminbi and foreign exchange settlement.
China-based telecom equipment giant Huawei Technologies on September 14 entered China’s interbank renminbi/foreign exchange (FX) spot market as a corporate member, according to a September 12 announcement by the China Foreign Exchange Trade System (CFETS), the country’s interbank trading platform.
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