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China Daily | Updated: 2017-07-05 06:59
Govt and policies
Govt to raise RQFII quota for HK
The State Council has approved an increase of quota under the Renminbi Foreign Institutional Investor scheme for Hong Kong to 500 billion yuan ($73.55 billion) to further meet demand for yuan asset allocation by Hong Kong investors, the central bank said on Tuesday. As a pioneer to promote the yuan's internationalization, Hong Kong was granted a 270 billion yuan quota under the RQFII scheme in 2011 to facilitate cross-border overseas investment.
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