London to get Rmb80bn RQFII quota, but doubts remain
Beijing pledges offshore RQFII quota for London, but the city's shallow RMB pool coupled with its trade deficit with China could hinder its prospects of becoming a thriving offshore hub.
China regulators are to make Rmb80 billion ($13.1 billion) in renminbi qualified foreign institutional (RQFII) quota available to financial institutions in London, it emerged yesterday. No timeline was given.
It comes just three months after the China Securities Regulatory Commission (CSRC) announced plans to expand its RQFII programme to institutions in both London and Singapore.
UK chancellor George Osborne, visiting Beijing for the fifth Sino-British economic and financial di…
Please sign in or register
for free access to 1 article per month from AsianInvestor’s content and archives of over 16,000 articles.
¬ Haymarket Media Limited. All rights reserved.