China spells out RQFII guideline

05/2/2013 | Xinhuanet.com (China)

A guideline for China's Renminbi Qualified Foreign Institutional Investor programme requires initial opening of an RQFII basic deposit account through a domestic commercial bank that can act as a QFII custodian. The rule is seen as further advance in China's opening of capital markets and toward internationalisation of its currency.

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