16 February 2019

PBoC lets foreigners invest RMB in financial firms, paper says

The People’s Bank of China will allow foreigners to invest renminbi in domestic financial firms, subject to approval by the State Council, Beijing Business Today reported Friday, citing an official notice. The policy covers stake purchases, equity transfers and changes in capital, among others. The move will help expand cross-border use of the Chinese currency and move it a step closer to internationalization, the report said.

– Contact HKEJ [email protected]



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