China central bank outlines rules on investment quotas under RQFII
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) in Advanced Talks to Acquire B/E Aerospace (BEAV) - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
BEIJING (Reuters) - China's central bank on Monday outlined rules on investment quotas under the Renminbi Qualified Foreign Institutional Investor (RQFII) programme.
RQFII investors seeking investment quotas will be given quotas no greater than a certain proportion of the asset's size, if they qualify for the scheme, the People's Bank of China said in a notice on its website.
If the desired investment quota surpasses the base quota, investors will need to gain approval from the State Administration of Foreign Exchange (SAFE).
The rules were jointly issued with SAFE.
The RQFII programme, set up in 2011, allows financial institutions to use offshore yuan to buy securities in mainland China, including stocks, bonds and money market investments.
(Reporting by Yawen Chen and Elias Glenn; Editing by Ryan Woo)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Sanaa air raids resume as Yemen truce expires: residents
- British banks preparing to leave UK over Brexit: Observer
- Duterte hopes Philippine fishermen can return to China-controlled shoal
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!