Caixin OnlineFinance & EconomicsTop Stories Finance Alibaba Subsidiary Lets SMEs Hedge against Yuan Fluctuations
05.23.2013 15:18

Alibaba Subsidiary Lets SMEs Hedge against Yuan Fluctuations

Service allows small trading companies to avoid losses by making an offsetting bet on forward exchanges
By staff reporter Fu Yanyan

(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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