Alibaba Subsidiary Lets SMEs Hedge against Yuan Fluctuations
(Beijing) – A subsidiary of Alibaba Group has introduced a service that allows small and medium-sized companies (SMEs) trading on its platform to hedge against risks from yuan exchange rate fluctuations.
That service has long been available at domestic banks, but only companies with a sizeable turnover can enjoy it, said Xiao Feng, deputy general manager of Shenzhen OneTouch Enterprise Service Co. Ltd., the subsidiary that serves SMEs trading with foreign businesses.
- Experts Question Alipay's Backup Plans after Long Glitch
- Parents in Capital Angry at Recruiting Changes for Top Primary Schools
- A Prince's Legacy
- Emissions from Nation's Incineration Plants 'Surpass Standards'
- Developer Probed for Web of Floor Space Fraud
- Is Infinite Economic Growth in Germany Possible?
- Be Prepared to Pass the Test of Fed's Moves
- Nursing Home Fire Exposes Struggles of Elderly People in Rural Areas
- Put to Death
- Closer Look: How a Glass Door Stops Growth of Private Hospitals
- Sign up to receive our free daily newsletter
- Phone Maker Transsion Catches the African Beat
- Solar Panel Maker Suffering HK Share Sell-Off 'Failed to Repay Loans'
- The Big VIE Question
- South China Sea Issue Is Litmus Test for Sino-U.S. Relationship
- Rain on CCTV's Moscow Parade Coverage
- China Unleashes Bonds to Tackle Local Debt
- Gov't Announces Plan to Upgrade Factories over Next Decade
- Rescue in the Works for Indebted Sinosteel
- Public Hospitals to Be Opened to Investors, State Council Says
- Residents of Beijing Community Renew Protest against Waste Incineration Plant