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Feb

09

Trapped China Cash Breathes Life Into Hong Kong’s Yuan Banking

By Tony Seruga

Banks offer hedging to companies unable to repatriate yuan
Profits of foreign industrial firms at $253 billion last year

Banks in Hong Kong are finding a new source of revenue in helping multinational companies deal with a growing headache: how to cope with tightening restrictions on transferring profits and dividends out of China.

As Beijing clamped down on outflows that threatened to destabilize its currency, companies are suddenly turning to lenders in Hong Kong to hedge their currency risks, bolster the yield on money trapped inside China and for new loans, according to bankers and analysts…

Trapped China Cash Breathes Life Into Hong Kong’s Yuan Banking

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