China’s SAFE makes fresh move against copper financing

China’s copper traders are scrambling to understand a new notice from China’s foreign exchange regulator that may lead to tougher policing of the copper financing business.

The State Administration of Foreign Exchange vowed to step up scrutiny of trade finance using foreign currency, and warned of tougher penalties for banks lending to companies with “fictitious” credentials....

Published

Metal NM

December 09, 2013

05:02 GMT

Shanghai