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Bank of East Asia reveals currency-linked product in the pipeline

Bank of East Asia (BEA) says it will launch a currency-linked product to meet demand for renminbi-denominated investments, once Hong Kong’s 20,000 yuan daily conversion limit is lifted. Despite Hong Kong Monetary Authority’s ongoing deliberations, Alfred Mak, BEA’s head of investment products and advisory, wealth management division, expects the cap to be lifted in the second quarter of 2014. “This…

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