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Yuan QFII trials soon
Source: Xinhua |
September 9, 2011, Friday
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Print Edition
Print Edition
THE People's Bank of China, the central bank, may start yuan QFII trials soon, allowing yuan funds raised in Hong Kong to be invested in the mainland's securities market, a senior official said yesterday.
QFII, short for Qualified Foreign Institutional Investors, is a mechanism that allows overseas investors, including fund managers and securities firms, to invest in the mainland's stock markets.
The official, who spoke anonymously, said that during the trials, the total investment quota allowed to yuan QFII will be capped under 20 billion yuan (US$3.13 billion), with 80 percent to be invested in the mainland's stock markets.
The option will first be open to domestic fund managers familiar with the A-share market and subsidiaries of securities companies in Hong Kong.
QFII, short for Qualified Foreign Institutional Investors, is a mechanism that allows overseas investors, including fund managers and securities firms, to invest in the mainland's stock markets.
The official, who spoke anonymously, said that during the trials, the total investment quota allowed to yuan QFII will be capped under 20 billion yuan (US$3.13 billion), with 80 percent to be invested in the mainland's stock markets.
The option will first be open to domestic fund managers familiar with the A-share market and subsidiaries of securities companies in Hong Kong.
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