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China is considering a pilot trial to allow qualified individuals to invest overseas in the Shanghai free trade zone, a step closer to scrapping the cap on currency swaps.

A State Council executive meeting presided over by Premier Li Keqiang on Wednesday decided to study and initiate the trial in the zone to allow qualified domestic individuals to make overseas investments, according to a release issued after the meeting.

Mei Xingbao, an external supervisor for the Bank of China, said the announcement was long-awaited and could be seen as a step forward in the internationalisation of the yuan. – China Daily, ANN

Thai-Russian trade

A seminar on trade relations and business prospects between Thailand and Russia will take place on November 3, said Dr Sombat Thiratrakoolchai, president of the Thai-Russian Chamber of Commerce.

The governor of the Tourism Authority of Thailand, the head of CP Group and the Russian ambassador to Thailand will be among the speakers, he said.

The seminar, entitled “Thai-Russia Business, Investment & Cooperation”, will be organised by the Thai-Russian Chamber of Commerce and will take place between 1.30pm and 5pm at the Dusit Thani Hotel.

Speakers will be Kirill Barsky, Russian ambassador to Thailand; Natthakrit Sivasri, chairman of overseas operations at CP Group; Eugene Abov, publisher of Russian Beyond the Headlines; Yuthasak Supasorn, governor of the TAT; Dr Siwat Luangsomboon, head of research at Kasikornbank; Noppadon Khamsai, managing director of Thai Sturgeon Farm; and Pana Janviroj, president of The Nation.