Engaged minds

Treasurers need to keep a sharp eye on China’s financial regulators as they respond to changing economic fortunes and the actions of those deemed speculators. Recent changes affect treasury structures and best practice.  This workshop and disucssion take a comprehensive look at the key changes, with presentations from top corporates in the region. Take pooling. From early 2014 onwards, RMB cash pooling has been progressively liberalised until by September 2015, the procedure was accessible to most corporates who needed it. However, in January this year, the People’s Bank of China (PBOC) instructed banks that provide multinational corporations with RMB cash pooling services to limit outflows so that there are no net remittance outflows of capital. Previous regulations only limited the net inflow of RMB from overseas, with no cap on RMB outflow. The new ‘regulation’, which is oral only, has made it difficult to remit money out of Mainland China although intercompany loans ...

Brief Event Notes:  2016 debt market that has seen a number of unpredictable and volatile events - the has been stress in the commodity sector, the oil and gas, Brexit and the US elections however issuance and appetite had not dwindled until recent bond sell down post US elections.  Brexit is proving a boon for Asian local currency bond market as issuance surge in the months after the UK's decision to leave the European Union (EU). The move by India and China to further open up their respective markets to institutional investors is making headlines.  China, Indonesia and India is increasing participation for international investors - Panda, Masala, Sukuk issuance and regulatory changes. Sukuk structure and issuance for middle east markets is  a challenge given issues around cross border sales and buy back that attracts stamp duty, VAT and regulatory approvals. There is an increase in demand/enquiries on issuance from frontier markets - Myanmar, Cambo...