How to expedite China service payments
Haymarket Media shows how the right advisor, regulatory change, and project management can help an SME speed up its China remittances.
Magazine and events publisher Haymarket Media Ltd successfully transferred Rmb3.4 million ($550,000) from its China operations to Hong Kong on September 24. The process took about two months, considerably shorter than the previous two attempts and something its regional CFO was very proud to announce.
“It’s easier [to transfer the money offshore] than before. This allows us to minimise our lazy cash sitting in bank accounts in China, and better use the money for investment or leverage management,” said David Newton (pictured), CFO of Haymarket based in Hong Kong.
Sign in to read on!
Registered users get 2 free articles in 30 days.
Subscribers have full unlimited access to CorporateTreasurer.
Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.
If you are a treasurer, CFO or senior financial professional at a corporate or SME, please register for free VIP access here.
Questions?
See here for more information on licences and prices, or contact [email protected].
© Haymarket Media Limited. All rights reserved.
Top news, insights and analysis every Tuesday & Thursday
Free registration gives you access to our email newsletters
for unlimited access to all articles, newsletters
