US president Donald Trump has also u-turned on the removal of the "de minimis" clause for tariff free goods worth below $800; the Hongkong Post is now restarting deliveries after suspending them seeking clarifications; meanwhile China is keeping the yuan at a stable rate against the US dollar.
The Hong Kong Export Credit Insurance Corporation is seeking collaboration with more finance firms to address funding issues; mainland China, Japan, Asean, the EU and the US are target markets.
All vendors on Taobao and Tmall will be able to add WeChat Pay to their fund collecting options soon, as they face increasing market competition, according to market sources.
The latest edition of the HSBC Smarter Business Series explores the importance of flexible, transparent and scalable digital payments and collection solutions to enable online retailers to differentiate themselves in an increasingly competitive landscape.
Visa-owned Currencycloud is working to expand its client base in China. In a discussion with CT, Rohit Narang, leader of the firm’s Cross-Border Solutions, highlighted the markets’ significant growth potential.
Rapid growth in cross-border commerce coupled with unexpected supply chain shocks has made it more pressing than ever for treasurers to strengthen their payments schemes.
In this exclusive interaction with CT, Kohli shares his thoughts on the megatrends affecting corporate treasurers – including digitisation and growth in global commerce – and discusses efforts to resolve friction in cross-border payments.