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HK scraps yuan conversion cap ahead of Shanghai link

Thursday, November 13, 2014 - 05:50

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.


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.

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