Beijing unveils reforms to RQFII quota system
Beijing has relaxed the renminbi qualified institutional investor (RQFII) quota rules, as it did for the QFII scheme in February. It is hoped the move will address capital-repatriation hurdles to MSCI inclusion.
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Beijing’s foreign exchange regulator yesterday unveiled significant changes to the renminbi qualified foreign institutional investor (RQFII) scheme, whereby licensed holders will automatically receive quota based on a percentage of their assets under management (AUM).
The State Administration of Foreign Exchange (Safe) has also abolished RQFII quota limits for all foreign sovereign wealth funds, central banks and monetary authorities that complete the required registration process…
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