Date
20 October 2017

Guangdong RMB settlement up 36.5% at 1.23 trn yuan, paper says

Guangdong’s renminbi trade settlement with Hong Kong surged 36.5 percent to 1.23 trillion yuan (US$202.64 billion) in 2013 from the previous year, Shanghai Securities News reported Monday, citing data from the Gaungzhou branch of the People’s Bank of China. The amount accounted for 71.9 percent of the southern province’s total renminbi trade settlement for the year. As of the end of 2013, the Hong Kong subsidiaries of six Guangdong-based securities companies, seven fund management companies and one asset management company have obtained licenses to join the renminbi qualified foreign institutional investor (RQFII) scheme, and have been granted a combined investment quota of 72.2 billion yuan, or 45.8 percent of the entire quota under the program, the report said.

– Contact HKEJ at [email protected]

EL/AC/CG

 

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