RQFII funds are a stepping stone towards yuan convertibility
RQFII funds will give offshore yuan depositors better yields than their bank accounts and are a step towards convertibility of the currency, say panellists at our RMB Rising event.
The race to launch funds using quotas from China’s renminbi qualified foreign institutional investor (RQFII) scheme won’t leave QFII or dim sum bond products in the dust, agreed a panel of asset managers at the RMB Rising conference hosted by AsianInvestor and FinanceAsia last week.
Instead, at least initially, RQFII will provide overseas holders of low-interest yuan deposits a way to gain better yields on their offshore RMB. It is also a step towards convertibility of the currenc…
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