Govt to raise RQFII quota for HK

China Daily (Hong Kong) - - BUSINESS -

The State Coun­cil has ap­proved an in­crease of quota un­der the Ren­minbi For­eign In­sti­tu­tional In­vestor scheme for Hong Kong to 500 bil­lion yuan ($73.55 bil­lion) to fur­ther meet de­mand for yuan as­set al­lo­ca­tion by Hong Kong in­vestors, the cen­tral bank said on Tues­day. As a pi­o­neer to pro­mote the yuan’s in­ter­na­tion­al­iza­tion, Hong Kong was granted a 270 bil­lion yuan quota un­der the RQFII scheme in 2011 to fa­cil­i­tate cross-bor­der over­seas in­vest­ment.

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