Credit concerns grow as Chinese companies shun new documentation
Chinese corporates and China-incorporated foreign banks are engaging lawyers to draft their own "in-house" derivatives documentation to bypass the onerous credit support provisions attached to China's new derivatives master agreement.
The companies' ultimate regulator, the State-owned Assets Supervision and Administration Commission (Sasac), is not forcing state-owned corporates to sign the new master agreement, but the document is being promoted as standard for over-the-counter derivatives
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