Date
17 August 2018

CSRC assigns 80 bln yuan RQFII quota to London, paper says

The China Securities Regulatory Commission has reportedly assigned an 80 billion yuan (US$13.11 billion) investment quota to London under the renminbi qualified institutional investor scheme, the Shanghai Securities News reported Thursday. While details of the plans are yet to be announced, unnamed analysts were quoted as saying that the London branches of mainland China-based financial institutions could have priority in using the quotas, offering them new business opportunities. It is understood that institutions such as BOC International and China International Capital Corp. Ltd. have already set up operations in Britain, while CITIC Securities Co., Ltd. (06030.HK, 600030.CN) has set up branches in the United States and is planning to tap into the British, Singapore and Australian markets, the report said.

– Contact HKEJ at [email protected]

EL/AC/SK

 

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