Deutsche moves to simplify RMB under PBoC scheme

deutsche-bank-2010

Deutsche Bank today took a big step in pushing the internationalisation of Chinese renminbi (RMB) after it completed the first cross-border transaction with a corporate under a new simplified scheme backed by the country's central bank that waives specific documentation burdens for certain firms.

The simplified RMB cross-border payment (SRCP) pilot scheme has been introduced by the People's Bank of China (PBoC) as part of its commitment to easing the controls on the currency, and in recognition

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: