China eases borrowing by firms in free zone
It removes regulatory hurdles and allows firms to borrow up to twice their capital base
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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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