by Bruno Francois, Head of Transaction Banking, Greater China, BNP Paribas
The RMB rules change fast and it requires hands-on expertise and thorough knowledge to tailor end-to-end RMB cash pooling solutions. Practically speaking, this is what corporates should be aware of today.
1/ Within the Shanghai Free Trade Zone
Corporates assigning an entity incorporated in the Shanghai Free Trade Zone (SFTZ) as their RMB pool header will get support from the People’s Bank of China (PBOC). Concretely, the PBOC facilitates the implementation of an international liquidity structure by: