HK seeks increase in quota to invest in mainland's financial markets

Hong Kong

HONG Kong is in talks with the authorities in Beijing to expand its quota to invest in mainland financial markets as the limit has been reached, the city's financial secretary said on Tuesday.

As a pioneer to promote the yuan's internationalisation, Hong Kong was granted a 270 billion yuan (S$58.8 billion) quota under the Renminbi Foreign Institutional Investor (RQFII) scheme in 2011 to facilitate cross-border foreign investment.