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China may allow Taiwan join in Renminbi QFII Program

Mar. 12, 2012 (China Knowledge) - China regulators are likely to expand the Renminbi Qualified Foreign Institutional Investor (RQFII) program to Taiwan, which will allow individual investors on the island to directly invest in the mainland's A-share stock market, China Daily reported.

Guo Shuqing, chairman of the China Securities Regulatory Commission, said that it is likely for Taiwanese investors to use offshore RMB deposits to invest in the mainland's capital market.

However, the plan still needs to study, added Guo.

In late December, China officially released rules for the trials of the long-awaited RMB QFII scheme, under which Hong Kong subsidiaries of fund houses and securities companies can use RMB funds raised in Hong Kong to invest in China's securities within an approved quota.

In the initial stage, the total Renminbi QFII quota is set at RMB 20 billion, China Knowledge reported earlier.

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