Hong-Wei completes cross-strait RMB loan
Jan 30, 2014
TOP TIPS: How to apply for cross-border RMB interco loans
Standard Chartered’s Frankie Au takes corporates step-by-step through applying to make intercompany renminbi loans.
China is piloting several two-way intercompany loans in special economic zones in cities such as Kunshan, Shanghai and Qianhai in Shenzhen. Frankie Au, Standard Chartered’s renminbi product head for Northeast Asia, transaction banking, worked with Hong-Wei Electrical Industry Co, to transact its first cross-strait loan to its Kunshan subsidiary in late January.
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