Must read for those involved in Client Tax Integrity. Paradise Papers in relation to China. All-inclusive research into why Chinese multinational companies are registered in tax havens. A closer look at the Chinese expansion strategy, and why offshore entities in tax havens fit that strategy. A detailed examination of the advantages of tax havens and the resulting Chinese selection criteria applied to territories for overseas entities. This against the backdrop of tax evasion and aggressive tax avoidance. Continue reading Comprehensive Probe Into How And Why Chinese Companies Use Tax Havens And Offshore Financial Centres – A Tax Integrity Reference Work.
China has imposed new tariffs on products imported from the US. It is a direct response to President Trump’s announcement of charges on steel and aluminium imported in to America. Beijing says the move is to safeguard the country’s interests. The main concern is that the situation could escalate further, if the U.S. goes ahead with its plan of tariffs on Chinese imports. According to Washington this is a retaliation for years of alleged intellectual property theft. Continue reading Markets fall as US-China trade-war-fears grow.
All roads lead to Beijing as we look at China’s generation defining “One Belt, One Road” policy, an endeavour that, if successful, will interweave the economic destinies of 3.8 billion people (over half of the global population), across 65 countries. The cost is projected at a mindboggling USD 4 trillion – equivalent to launching 27 International Space Stations, building 10 complete US interstate systems, or digging 180 Chunnels (the Channel Tunnel between the U.K. and continental Europe). No matter how you slice it, China is primed to head-up the largest infrastructure investment project the world has ever seen. Continue reading One Belt, One Road – The giant in the East needs a better PR-firm on the case.
An ING / Bank Mendes Gans case study by Raymond Zhang, assistant general manager, Treasury division, Shenzhen based China International Marine Containers (Group) Ltd. This is the third of three articles published by ING in Treasury Management International (TMI) providing in-depth insights into the challenges, opportunities and solutions for corporations expanding from their home market in Europe or Asia into new territories. Continue reading China International Marine Containers (CIMC) pioneer in highly innovative cash pooling.
Connecting regions, creating competitive advantage. This is the third of three articles in TMI published by ING that provide in-depth insights into the challenges, opportunities and solutions for corporations expanding from their home market in Europe or Asia into new territories. (November 2014) Continue reading Pioneering best practices in Global Liquidity and Risk Management – In interview with TMI Magazine & CIMC.
In recent months much has been written on the renminbi ‘s (RMB) increasing speed of internationalisation, following initiatives by the People’s Bank of China (PBOC). From a liquidity management aspect this might seem very promising; embedding RMB in offshore cash pools sounds like a wish come true for many multinational corporations (MNCs). However as this article explains, treasurers who plan on making early use of these opportunities could find that China’s foreign exchange (FX) controls are still in effect. Continue reading Unwrapping Renminbi from ‘Red Tape’: A Perspective on China’s Currency.
Figures show that corporate cash balances at many businesses have grown over the past few years. Companies aimed to protect their lifelines and reduce liquidity risk during the prolonged financial crisis that developed more than five years ago. At present, with the financial landscape still unclear, cash balances remain very high; in fact many companies appear to be holding more cash than before the crisis. Continue reading A Strategy for Setting Free Trapped Cash.