Friday, February 7, 2014

Licence Applications to Invest Offshore Renminbi in Chinese Securities Markets

Singapore was allocated an aggregate quota of RMB 50 billion under China’s RQFII programme.
Singapore financial institutions (‘FIs’) with a license as Renminbi Qualified Foreign Institutional Investor (‘RQFII’) will be able to offer Renminbi (‘RMB’) investment products to investors and to invest offshore RMB into China’s securities markets within their allocated quota.
Singapore-incorporated FIs which are approved by the Monetary Authority of Singapore (‘MAS’) to conduct fund management activities may submit their application for an RQFII licence through an approved custodian bank in China to the China Securities Regulatory Commission (‘CSRC’).

For more information see our regulatory update on the Licence Applications to Invest Offshore Renminbi in Chinese Securities Markets.

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