Link
9-9-2011
China expected to launch RMB QFII
China's central bank is expected to launch a trial program allowing yuan funds raised in Hong Kong to be invested in the mainland's securities market, by overseas investors.
A senior official from the People's Bank of China gave some details of the plan - total investment will be capped at 20 billion yuan, or just over 3 billion U.S. dollars, with 80 percent to be invested in the mainland's stock market.
The option will first be open to domestic fund managers familiar with the A-share market, and subsidiaries of securities companies in Hong Kong. The central bank is also drafting a regulation allowing Hong Kong companies and foreign companies to make direct RMB investment in the mainland.
