China issues guidelines for Shanghai international financial centre
The country will facilitate cross-border trade and investment and push for more international financial organisations to set up in Shanghai, the Central Financial Commission said in the guidelines.
China will also improve monitoring and alerting of cross-border capital flows, and take steps to prevent and defuse cross-border financial risks, according to the guidelines.
(Reporting by Beijing Newsroom Editing by Tomasz Janowski)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
2 hours ago
- Zawya
DP World mobilises $1bln to boost trade flow
DP World Trade Finance has mobilised over US$1 billion in working capital for businesses across emerging markets, helping close the global trade finance gap and keep goods moving through some of the world's most challenging economic environments. This milestone was achieved through a combination of DP World's own lending operations and partnerships with more than 32 financial institutions globally, including J.P. Morgan, Standard Bank, NedBank and more. Their financing solutions, delivered alongside DP World's logistics capabilities, have helped reduce risk and improve access to capital for underserved businesses of all sizes, thus lowering barriers to international trade. By combining trade finance with logistics, DP World offers businesses both funding and real-time visibility into their supply chains. This integrated model helps lenders make faster, more informed decisions - unlocking capital where it's needed most. The portfolio that DP World Trade Finance handles has also proven to create a very healthy loan book with high-quality assets, way better than the industry benchmarks, further reinforcing the effectiveness of this data-driven, integrated approach. To date, DP World Trade Finance has enabled trade across Africa, the Americas, Asia, and Europe, supporting sectors including agriculture, metals, automotive, and engineering. Commenting on this achievement, Group Chairman and CEO of DP World Sultan Ahmed Bin Sulayem said, "The growth of our trade finance business underscores the UAE's role as a catalyst for global trade. By making capital more accessible, particularly in high-potential markets, we are shaping a trade system that is more inclusive and resilient.' Sinan Ozcan, Senior Executive Officer, DP World Trade Finance, stated, 'Cross-border trade is the engine of global economic growth, but access to affordable finance remains a critical barrier for many businesses, especially SMEs in emerging markets. Reaching this US$1 billion milestone reflects our commitment to changing that. Through DP World Trade Finance, we've created a network that connects businesses with capital, streamlines the financing process and enables trade to flow more consistently on a global scale.' The global trade finance gap, estimated at US$2.5 trillion, continues to limit opportunities for businesses in developing economies, particularly those without access to traditional financing due to limited credit histories, lack of collateral, or weaker balance sheets that classify them as high risk.
Emirates 24/7
3 hours ago
- Emirates 24/7
DP World mobilises $1 billion to boost trade flow
DP World Trade Finance has mobilised over US$1 billion in working capital for businesses across emerging markets, helping close the global trade finance gap and keep goods moving through some of the world's most challenging economic environments. This milestone was achieved through a combination of DP World's own lending operations and partnerships with more than 32 financial institutions globally, including J.P. Morgan, Standard Bank, NedBank and more. Their financing solutions, delivered alongside DP World's logistics capabilities, have helped reduce risk and improve access to capital for underserved businesses of all sizes, thus lowering barriers to international trade. By combining trade finance with logistics, DP World offers businesses both funding and real-time visibility into their supply chains. This integrated model helps lenders make faster, more informed decisions - unlocking capital where it's needed most. The portfolio that DP World Trade Finance handles has also proven to create a very healthy loan book with high-quality assets, way better than the industry benchmarks, further reinforcing the effectiveness of this data-driven, integrated approach. To date, DP World Trade Finance has enabled trade across Africa, the Americas, Asia, and Europe, supporting sectors including agriculture, metals, automotive, and engineering. Commenting on this achievement, Group Chairman and CEO of DP World Sultan Ahmed Bin Sulayem said, "The growth of our trade finance business underscores the UAE's role as a catalyst for global trade. By making capital more accessible, particularly in high-potential markets, we are shaping a trade system that is more inclusive and resilient.' Sinan Ozcan, Senior Executive Officer, DP World Trade Finance, stated, 'Cross-border trade is the engine of global economic growth, but access to affordable finance remains a critical barrier for many businesses, especially SMEs in emerging markets. Reaching this US$1 billion milestone reflects our commitment to changing that. Through DP World Trade Finance, we've created a network that connects businesses with capital, streamlines the financing process and enables trade to flow more consistently on a global scale.' The global trade finance gap, estimated at US$2.5 trillion, continues to limit opportunities for businesses in developing economies, particularly those without access to traditional financing due to limited credit histories, lack of collateral, or weaker balance sheets that classify them as high risk.
Zawya
3 hours ago
- Zawya
India investigates Walmart's Myntra for breaching foreign investment rules
India's financial crime agency said on Wednesday it had registered a case against Walmart's e-commerce fashion company Myntra for allegedly receiving 16.54 billion rupees ($191.52 million) of foreign funding in violation of the country's investment rules. The Enforcement Directorate said that Myntra was a wholesale retailer, but that the company sold the majority of its products to a retailer which then sold the products on Myntra's website. India's investment rules only allow foreign e-commerce companies to run a marketplace to connect buyers and sellers, and they cannot stock and sell goods to customers on their own. Other companies including Walmart's Flipkart and Amazon have often faced allegations of breaching such rules using certain sellers - allegations the companies have denied. Myntra did not immediately respond to a request for comment. ($1 = 86.3840 Indian rupees) (Reporting by Abinaya Vijayaraghavan. Editing by Mrigank Dhaniwala and Mark Potter)
