Source: China – South China Morning PostWhen Hong Kong businessman Sunny Yip Yuk-chik heard about a new scheme that would make it easier and cheaper to borrow Chinese yuan, he immediately called his staff on the Chinese mainland with the news.
Earlier this month, the Hong Kong Monetary Authority (HKMA) launched a 100 billion yuan (US$14 billion) Renminbi Business Facility (RBF) that would enable business owners like Yip to borrow yuan from Hong Kong banks for up to 12 months at the onshore yuan interest rate, easing trade…Read More