Beijing is considering expanding a trial program that allows yuan raised offshore to be funneled back into China’s capital markets, part of efforts to internationalize the currency and open up its financial system.
Institutional fund managers in Switzerland and Luxembourg may be allowed to join the so-called Renminbi Qualified Foreign Institutional Investor program, according to people who were at a briefing by regulators. The program allows approved foreign investors to tap directly into China’s stock and bond markets that remain off limits to most other money managers because of tight capital controls.
Both countries have growing ties with China and are among countries hoping to become offshore trading hubs for trading the yuan.
Read Full Article HERE
Wall Street Journal via CHINA US Focus http://ift.tt/1C9nJRr
No comments:
Post a Comment