Hong Kong regulators loosen yuan conversion marking a “milestone for the development of offshore RMB business in Hong Kong”

3 August 2012 | 2 minutes read

In a move that will undoubtedly further the liquidity of the yuan offshores, The Hong Kong Monetary Authority (HKMA) announced measures that would allow the entry of non-residents into the RMB market, through unlimited conversions of the currency in the form of deposits and various credit facilities. Unlike locals, who are restricted by the daily RMB20,000 (US$3,140) cap, the regulators…

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