04 November 2010 09:53 [Source: ICIS news]
SINGAPORE (ICIS)--PCC Shanghai, a wholly-owned subsidiary of ?xml:namespace>
"The supplier can start yuan-based transactions this week,” the source said, referring to PCC Shanghai.
The facility to trade in the Chinese yuan would mainly be used for selling PE and PP to local plastic processors from its bonded warehouses in
PCC Shanghai was still waiting for internal approval to offer a door-to-door delivery service to local plastic processors from 2011, supplying PE and PP from its bonded warehouses, he added.
The company had also applied for a licence to sell liquid petrochemicals to Chinese buyers in yuan, and was waiting for approval from the Chinese authorities, he said.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections