China gives Luxembourg 50b yuan RQFII quota
[BEIJING] China is giving investors in Luxembourg the right to invest up to 50 billion yuan (S$10.7 billion) in China's capital markets, the central bank said on Wednesday.
Qualified Luxembourger investors will invest under the Renminbi Qualified Foreign Institutional Investor scheme, or RQFII, the central bank said in an online statement.
Launched in 2011, the RQFII scheme allows financial institutions to use offshore yuan to buy securities in mainland China, including stocks, bonds and money market investments.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations