Reg Roundup: New China free trade zone plan; Frankfurt renminbi clearing bank agreement
China plans Beijing-Tianjin-Hebei Free Trade Zone; The People's Bank of China and Deutsche Bundesbank signed an agreement to enable renminbi clearing in Frankfurt; The Reserve Bank of India relaxes rules for smaller currency hedges
China plans Beijing-Tianjin-Hebei Free Trade Zone
China may soon release plans of a Beijing-Tianjing-Hebei free-trade zone (FTZ) to coordinate development of the three cities, according to Xinhua News citing China Securities Journal on March 24. One of the free trade zones might be located in Hebei's Jingtang port and Caofeidian. Tianjin had already submitted a FTZ plan to the top regulators for approval. Treasurers working in China will be pleased to hear the news, after concerns Shanghai’s FTZ is distorting business opportunities and practices.
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