Not Safe: lenders fear China volumes after forex move
Chinese companies are in discussions with their local bankers about foreign currency loans they can now send offshore, following a change in rules earlier this month. That has sparked fear among some bankers outside of the country, who think they will now face a tougher time originating deals from Chinese borrowers.
The State Administration of Foreign Exchange (Safe) announced in the middle of the month that it will allow Chinese companies to get foreign currency-denominated loans within the country and pass these loans on to their overseas subsidiaries.
That offers a direct alternative to funding from foreign banks, and
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