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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.