FIs invited to tap offshore yuan scheme
MAS calls for applications for China's RQFII licence, via custodian banks
Singapore
THE Monetary Authority of Singapore has called for applications for China's renminbi qualified foreign institutional investor (RQFII) licence. Financial institutions that hold such a licence can offer yuan-denominated investment products and invest offshore yuan - the Chinese currency that is traded outside the country - in China's securities markets.
In a statement yesterday, MAS said that the applications are to be made to the China Securities Regulatory Commission through approved custodian banks. All financial institutions incorporated in Singapore and approved by the MAS to conduct fund management activities are eligible for the scheme.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
Aims Apac Reit posts 10.2% lower H2 DPU on enlarged unit base
Singapore top recipient of Q1 cross-border investments in Apac: Knight Frank
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Keppel Infrastructure Trust posts 29.1% lower Q1 distributable income
Bitcoin faces worst month since FTX crash with ETF demand cooling
AIA launches wealth centre targeting high-net-worth clients