China eases borrowing by firms in free zone
It removes regulatory hurdles and allows firms to borrow up to twice their capital base
Shanghai
CHINA has opened the door of its tightly controlled capital account a fraction wider by allowing firms operating within its Shanghai free trade zone to borrow funds without having to go through complicated regulatory hurdles.
Firms - both non-financial and financial - in the free trade zone in Shanghai will now be able to borrow up to twice their capital base, double the previous limit allowing them greater access to cheaper offshore financing.
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