The report notes that FinTech presents opportunities for banks to improve their profitability from both the cost and revenue angles, whether exploited either internally within banks or through collaborative partnerships with FinTech companies.
In the past, HMRC has, without warning, removed all, or nearly all, of the schemes that had featured on its list only a few weeks before of such jurisdictions as Australia, Guernsey, the US, Canada, France and Italy.
The Shanghai team is led by Kristy Calvert, who has more than 15 years of experience working on cross-border transactions, ten of which were gained in the PRC.
The signing took place between Mr Ian Johnston, Chief Executive of the DFSA, and Mr John Price, Commissioner of ASIC, in Melbourne.
The yuan, or renminbi, is not fully convertible and the government limits the amount of foreign currency to which individuals and businesses in China have access