You are here

HK scraps yuan conversion cap ahead of Shanghai link

Thursday, November 13, 2014 - 05:50

hkyuandollarsgy1311.jpg
Hong Kong residents have been restricted from converting more than 20,000 yuan per person a day from Hong Kong dollars, since offshore yuan transactions were first launched in 2004.

Singapore

IN preparation for a potential spike in demand for yuan, Hong Kong has decided to lift a daily cap on the amount of Chinese yuan residents can convert from next Monday - which is also when the city's new stock trading link with Shanghai will start.

Analysts - to whom this

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom