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00005 HSBC HOLDINGS
RTNominal up64.650 +0.400 (+0.623%)
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11/09/2019 10:50

HSBC (00005) hails removal of QFII & RQFII programs

[ET Net News Agency, 11 September 2019] China's State Administration of Foreign
Exchange (SAFE) yesterday announced the cancellation of the overall quota of QFII
(Qualified Foreign Institutional Investors) and RQFII (Renminbi QFII), the pre-approval of
quotas for individual foreign investors, and the restriction of pilot regions for RQFII.
HSBC said the move is a bold step in China's reform and capital markets opening.
"Removing quota requirements for the QFII and RQFII programs is a bold step forward in
the reform and opening up of China's capital markets. Reforms such as today's, combined
with ongoing index inclusion, ensure that China's capital markets continue to move into
the global investment mainstream," said Justin Chan, Co-Head of Markets, Asia-Pacific,
HSBC. (KL)

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