China to extend RQFII scheme to Hong Kong

The mainland is expected to extend the renminbi qualified foreign institutional investor (RQFII) scheme to Hong Kong-based financial institutions, the city's de facto central banker said in Beijing yesterday.

Norman Chan Tak-lam, chief executive of the Hong Kong Monetary Authority, said China Securities Regulatory Commission (CSRC) chairman Guo Shuqing pledged his support for the relaxation of the eligibility requirements. The scheme is limited at present to overseas units of mainland financial institutions.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1104893/china-extend-rqfii-scheme-hong-kong