Singapore is the first regional financial centre outside China and Hong Kong to have a RMB Clearing Bank. A RMB Clearing Bank in Singapore is expected to increase market depth and RMB liquidity circulating between Singapore and China. The Monetary Authority of Singapore (“MAS”), in consultation with PBC, has proposed certain eligibility criteria and other requirements for banks and merchant banks which wish to carry out forex transactions in China via a RMB Clearing Bank in Singapore (“China Forex Conversion”). Read this article to learn more.
Members-only access
To access the full resource, you must be a
member.
Already a member?
Login to unlock.
Login
Not an ACC member?
Gain access to a comprehensive collection of global
resources for in-house counsel
Sign
up for a 30-day trial
Region:
China, Singapore
The information in any resource collected in this virtual library should
not be construed as legal advice or legal opinion on specific facts and should not be considered representative of the views of its authors, its sponsors, and/or ACC. These resources are not intended as a definitive statement on the subject addressed. Rather, they are intended to serve as a tool providing practical advice and references for the busy in-house practitioner and other readers.