You are here

HK scraps yuan conversion cap ahead of Shanghai link

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.

Analysts - to whom this...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to