The People\'s Bank of China has granted a 50 billion RMB RQFII quota to Luxembourg.
Launched in Hong Kong in 2011, the RQFII (RMB Qualified Foreign Institutional Investor) scheme has been expanded to other jurisdictions since 2013, allowing the reinvestment of offshore RMB into the Mainland securities market.
Luxembourg’s Minister of Finance, Pierre Gramegna, commented: “The granting of the RQFII quota again demonstrates China’s recognition of the Luxembourg financial centre as one of Europe’s main hubs for international renminbi business. We are proud to play such a si...
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