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China to Further Expand Renminbi Qualified Foreign Institutional Investor Scheme
Tuesday, November 6, 2012 18:22
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According to a state media report, China's securities regulator is planning to expand quotas for the Renminbi Qualified Foreign Institutional Investor (RQFII) scheme and make it easier for mainland Chinese enterprises to go public in Hong Kong. The scheme is designed to allow foreign investors to trade “A” rated shares in stock exchanges in the Mainland. A spokesman for the China Securities Regulatory Commission says it's actively coordinating with relevant government departments, to allow more institutions to apply for exchange-traded-fund products under a pilot scheme. The quota increase could range from 170 to 270 billion yuan, up from the current quota of 70 billion yuan. The China Securities Regulatory Commission is coordinating and formulating new rules with the People's Bank of China to expand the quotas. The Regulatory Commission's decision was made following a request from Hong Kong financial authorities. The RQFII scheme was initiated in December 2011 for offshore investments into China's domestic capital market. The majority of these investments currently come from Hong Kong. For more news and videos visit ☛ english.ntdtv.com Follow us on Twitter ☛ http Add us on Facebook ☛ on.fb.me
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2012-11-06 18:03:25
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