PBoC launches cross-border RMB loan initiative for FRPZ
The People’s Bank of China (PBoC) Nanning central sub branch has released a set of pilot regulations on a cross-border renminbi loan initiative for corporates based in China's Yunnan Province-Guangxi Zhuang autonomous region financial reform pilot zone (Yunnan Guangxi FRPZ), which was launched by the PBoC in November 2013. According to a copy of the regulations obtained by GlobalRMB, corporates can now get RMB loans from banks to expand their business in the FRPZ.
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