princess_morbucks
24-01-14, 13:17
http://www.businesstimes.com.sg/breaking-news/singapore/financial-institutions-can-now-apply-invest-yuan-products-china-20140124
THE Monetary Authority of Singapore (MAS) announced on Friday that eligible financial institutions can submit applications for the Renminbi Qualified Foreign Institutional Investor (RQFII) licence that will allow them to offer RMB investment products and invest offshore RMB into China's securities markets.
The applications are to be made to the China Securities Regulatory Commission (CSRC) via approved custodian banks.
The CSRC requires that all applications for the RQFII licence be accompanied by a confirmation from MAS on the licensing status of the financial institution and its regulatory records for the past 3 years.
After obtaining the RQFII licence, the financial institution should apply to the State Administration of Foreign Exchange (SAFE) for an RQFII investment quota and where necessary, to the People's Bank of China for access to the Chinese inter-bank bond market subsequently.
THE Monetary Authority of Singapore (MAS) announced on Friday that eligible financial institutions can submit applications for the Renminbi Qualified Foreign Institutional Investor (RQFII) licence that will allow them to offer RMB investment products and invest offshore RMB into China's securities markets.
The applications are to be made to the China Securities Regulatory Commission (CSRC) via approved custodian banks.
The CSRC requires that all applications for the RQFII licence be accompanied by a confirmation from MAS on the licensing status of the financial institution and its regulatory records for the past 3 years.
After obtaining the RQFII licence, the financial institution should apply to the State Administration of Foreign Exchange (SAFE) for an RQFII investment quota and where necessary, to the People's Bank of China for access to the Chinese inter-bank bond market subsequently.