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Expansion of RQFII scheme expected to “add oil” to HK’s embryonic RMB business

The Mainland authority’s decision to relax the rules pertaining to the Renminbi Qualified Foreign Institutional Investors (RQFII) programme is good news for the private banking industry and its product providers, which have been locking in substantial sales of RMB-linked products to high net worth (HNW) clients regionwide. “The changes will allow more market players to participate in the RQFII scheme,…

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