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.
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