China cracks open the door to overseas investment

Yuan-Denominated QFII Program Kicks Off
China Securities Regulatory Commission, the central bank and the State Administration of Foreign Exchanges jointly issued a guideline for RQFII trials which allow fund management companies and securities firms to use yuan funds raised in Hong Kong to invest in mainland securities. A 20 billion yuan quota was set for the trial program, according to the guideline issued on December 16.

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