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Photo By: AsiaBriefing On May 24, Premier Li Keqiang and a delegation of Chinese senior officials arrived in Chile. During the visit, China and Chile signed a double taxation avoidance agreement (DTA), updated their Free Trade Agreement and agreed on setting up an RMB clearing center in Chile. China and Chile have developed a strong diplomatic relationship over the years. Chile was the first South American country to establish diplomatic ties with China, in 1970. It is also the first Latin American country to have signed a Free Trade Agreement with China, the other two being Peru and Costa Rica....

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Photo By: Top Rated Travel Bahamas Prime Minister Perry Christie has signed an agreement in principle with the President of China to allow the Bahamas to trade in the Chinese Renminbi (RMB). Bahamas Minister of Financial Services Hope Strachan said establishing a Bahamian RMB center would significantly boost the territory and would "further cement its position as the leader in the region for financial services." "It would also assist in increasing trade between China and The Bahamas and indeed the region by enabling China-Bahamas trade to be denominated in Chinese RMB and Bahamian dollars, rather than the current practice of...

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Photo By: Sesame Credit Alitrip (www.alitrip.com), the online travel booking platform under Alibaba Group, today (June 4th.) announced its collaboration with the Consulate General of the Grand Duchy of Luxembourg in Shanghai to introduce in the near future a credit-based online visa application process for mainland Chinese residents traveling to Luxembourg. Leveraging the scoring system of Sesame Credit, a credit agency under Alibaba Group’s related company Ant Financial Services Group, the move aims to give eligible Chinese residents increased convenience to travel abroad by lowering their barrier to obtaining travel visas and expediting their visa application process. Alitrip unveiled its...

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Asia Outbound summit series has made another milestone success by hosting its 5th. flagship summit series with its Spring summit at the Grand Hyatt in Shenzhen. The two-day summit (May 27th and 28th, 2015) has revealed the reason behind the trend of China’s rapid growth of outbound investment, and suggested many ideas as well as brand new strategies to internationally manage Chinese HNWI’s wealth and investments. The Asia Outbound Summit was launched in 2010 and was for the first time held in Shenzhen this year, in recognition of the city's fast developing and innovative industries, centered on hi-tech and advanced manufacturing....

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Photo By: Xinhua Finance Agency To deepen the financial cooperation between China's Guangdong, Hong Kong and Macao and realize cross-border investment facilitation, the Guangzhou Branch of the People's Bank of China issued the Provisional Regulations of Cross-border RMB Loan Pilot Management program in Nansha and Hengqin on July 13, and launched the cross-border RMB loan service. According to the regulations, registered and operating enterprises in Nansha and Hengqin, and enterprises that invest in Nansha and Hengqin key projects from Guangdong, are allowed to borrow money from Hong Kong and Macao banks. Additionally, the money can be used both inside and...

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Photo By: Xinhua China and South Korea yesterday (June 1st) have formally signed a bilateral free trade agreement (FTA) as the Asian economies seek to benefit from each other. Chinese Commerce Minister Gao Hucheng and his South Korean counterpart Yoon Sang-jick formally signed the bilateral FTA on June 1st in central Seoul, China's official Xinhua news agency reported. The signing comes three years after the countries began talks on the FTA in May 2012. Negotiations on the pact witnessed rapid progress after Chinese President Xi Jingping visited South Korea in July 2014. The deal will be implemented after it is approved by the...

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Photo By: Shanghai Pix July 20th, offshore legal, fiduciary and administration service provider Appleby has announced 'the management buyout of its fiduciary business (AFB) for an undisclosed sum, backed by private equity firm Bridge-point'.  AFB provides trust and corporate services (TCS) administering over 10,000 structures for almost 6,000 clients from nine locations. It has a strong position in niche markets such as employee benefit trusts in Jersey, the insurance market in Bermuda, and collateralized loan obligations in the Cayman Islands, according to Bridgepoint. As well as TCS services, the business provides fund services, advising in the launch and incorporation of...

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Photo By: X-Images A delegation from Gibraltar recently visited Singapore and Hong Kong to explore areas of mutual cooperation and to promote the island's financial services offerings. The delegation included representatives from Gibraltar Finance - the territory's financial services promotional agency, the Financial Services Commission, and a contingent from the private sector including lawyers, accountants, fund administrators, insurance professionals, and representatives from the Gibraltar Stock Exchange. During the visit from July 6-9, 2015, the Gibraltar delegation held technical sessions, including presentations, for professionals in the fund and asset management sectors. The sessions focused on marketing funds in the EU, fund...

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