Law Firms In Asia Benefit From Rush Of Multi Nationals To China Looking for Money
A worthwhile read in the Lawyer ... here's the introduction and link
Dim sum finance: tasty morsels for law firms
7 November 2011
With turmoil continuing to surround the eurozone, raising cash in China has never been so attractive. By Yun Kriegler
http://www.thelawyer.com/dim-sum-finance-tasty-morsels-for-law-firms/1010136.article
Sau-Wing Mak
France’s President Sarkovy may have been given short shrift by China when he went knocking with the eurozone begging bowl, but that has not stopped European companies such as Tesco, BP Capital and L’Air Liquide benefiting from money raised in that part of the world.
The two issues are obviously separate, but both stem from the rising importance of the Asian powerhouse and its intention to internationalise its currency, the renminbi (Rmb). Meanwhile, the rise of Rmb-denominated bonds, also known as ’dim sum bonds’, is only adding to China’s attraction.
