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2015-12-17
Shanghai Free Trade Zone Allows FX Borrowing
Non-financial firms in China (Shanghai) Pilot Free Trade Zone will be allowed to freely convert cash raised from overseas debt into yuan, authorities said in Shanghai Thursday evening.
According to a circular released by State Administration of Foreign Exchange, non-financial firms within Shanghai's Free Trade Zone will be given freedom to choose whether they would like to convert their cash raised from overseas debt into yuan, which will save enterprises' cost of cash management and settlement.
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