HONG KONG: HKMA Welcomes Expansion of Hong Kong’s RQFII Quota

Tuesday July 11 2017

The Hong Kong RQFII Quota expansion has been approved.

The Hong Kong Monetary Authority (HKMA) has welcomed the announcement by the People’s Bank of China (PBoC) on the 4 July 2017 approving an increase in Hong Kong’s Renminbi Qualified Foreign Institutional Investor (RQFII) quota from the current RMB270 billion quota to RMB500 billion.

Hong Kong is the first place for pilot implementation of the RQFII scheme. Before this latest expansion of the RQFII quota for Hong Kong, it had previously been expanded twice to RMB270 billion in 2014 and has already been fully allocated.

In February 2017, China’s foreign exchange regulator (SAFE) approved increased quotas for foreign investment in the country’s onshore financial market, The RQFII program is currently open to 18 countries and regions, including Britain, Singapore, France, the Republic of Korea, Germany, Qatar, Canada, Australia and Luxembourg as well as China’s Hong Kong Special Administrative Region.

Please click on the above link for the HKMA announcement.