Regulatory roundup: Australia-China forge new RMB settlement scheme
Australia-China forge new renminbi settlement service; Singapore kills off rupiah reference rate; China-France agree to lower dividend withholding taxes
Australia-China pen RMB settlement service agreement
The Australian Securities Exchange (ASX) and the Bank of China will begin offering renminbi settlement services by the middle of this year. Australian companies trading with China will be able to pay and receive renminbi, which should eliminate exchange rate risk and the cost of conversion. The two institutions signed an agreement in Sydney last week that will allow the ASX to use its settlement service Austraclear which already settles A$3 trillion in Australian dollar cash transactions per year.
Sign-in to access CorporateTreasurer content.
Please sign in to your subscription to unlock full access to our premium CT resources.
Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial. Click the link to get started.
Note: This free trial is a one-time offer. You are eligible for one free trial per year.
If you are a treasurer, CFO or senior finance professional at a corporate, please register to the website here.
Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.
© 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
