Krung Thai Bank joins hands with partnering Chinese Banks to serve customers in financial remittance by Yuan currency for import-export businesses with China.
Krung Thai Bank Executive Ms Kittiya Tothanakasem cited that the Chinese government made permission on Yuan currency transaction for international trade with Chinese companies in particular areas in China.
Krung Thai Bank realizes on the potential of Thai-Chinese business development and the opportunities of Thai operators to enhance their businesses in Chinese market. It thus cooperates with partnering Chinese Banks to allow the remittance with Yuan currency in several channels such as Letter of Credit and Bill of Collection.
According to the latest report from Kasikorn Research Center (KResearch), Thai exports to the People’s Republic of China in the first quarter of 2010 expanded by 70%. The overall export figure in March is reported to be higher than February by 11%. Exports to China hence can greatly support the whole export sector of Thailand to improve despite the risk from the ongoing domestic political upheaval.
In addition, Thai exports to China are expected to have plenty of rooms to grow in 2010 because of the incessantly growing economy of China and the tariff reduction to 0% following the ASEAN-China Free Trade Agreement (FTA). The mentioned factors are believed to help facilitate wider access of Thai exports to the Chinese market.
12 Things to Know about the ASEAN Catalytic Green Finance Facility (ACGF)
The ACGF is an ASEAN Infrastructure Fund initiative managed by ADB’s Southeast Asia Department Innovation Hub. It helps Southeast Asian governments prepare and finance infrastructure projects promoting environmental sustainability and contributing to climate change goals.
Thai cabinet approves 350 billion baht Aid for COVID-hit Businesses
Thailand unveiled new measures to help small and medium COVID-hit businesses in the tourism industry hit by a liquidity crunch.
APAC Banks to Face Portfolio Valuation Losses As Yields Rise
The latest data suggest that Fitch-rated banks in Hong Kong, India, Indonesia, Malaysia and Taiwan have the largest AFS securities portfolios, and display particular sensitivity to changes in yields.
Fitch Ratings-Hong Kong/Singapore-21 March 2021: A rise in yields for long-dated sovereign bonds will result in near-term losses for Asia-Pacific (APAC) banks as they recognise valuation changes on their available-for-sale (AFS) bond portfolios, but the capital impact should be manageable for most rated banks, says Fitch Ratings.
Subscribe via Email
3 Reasons to Be Optimistic About the Baht Right Now
Probably one of the most important factors for the rise of the Baht is the continued weakness of the US...
Will Thailand’s plan for quarantine-free tourism set a global trend?
According to the Tourism Authority of Thailand, the quarantine-exemption measures implemented in Phuket will be extended to five other key...
Thailand Approves Latest Economic Relief Package for Businesses
Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will...
Southeast Asia remains a hot spot for plastic pollution
The use of plastics is deeply embedded in our daily lives, in everything from grocery bags and cutlery to water...
Thailand BOI approves Biotech Projects Worth 2.4 Bln Baht ($78 million)
The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has...
Diamonds are forever but “James Bond Island” in Phang Nga Bay may not
Thailand’s Department of Mineral Resources will assess the stability of the limestone karst towers, which make up the chain of...