R-QFII to attract more investors to offshore renminbi

23 Aug 2011

The upcoming renminbi qualified foreign institutional investor (R-QFII) scheme is set to boost the amount of renminbi in Hong Kong by expanding offshore investment options in the currency.

China’s plans to let qualified foreign institutional investors use offshore renminbi to buy up to Rmb20 billion (US$3.1 billion) worth of mainland securities is set to bolster the distribution of its currency offshore and raise Hong Kong’s prominence as the only offshore renminbi hub.

China’s vice premier Li ...

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