CHINESE COMPANIES GET HELP

Posted by Scriptaty | 8:56 PM

A trio of financial groups –– ABN Amro, Credit Suisse First Boston and ING –– are going to offer derivatives that will help Chinese companies minimize fluctuations in currencies. The firms are able to offer the products thanks to a loosening of financial rules by the Chinese Government. The derivatives will allow Chinese businesses to hedge against swings in the price of foreign currencies. Other firms are interested in offering the derivatives but are awaiting approval from China.

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