China May Allow Use of Yuan for Overseas Investment

The Chinese government is considering allowing companies to use yuan for investments abroad, reports the China Daily.

 

Liu Yuhui, an economist with the Institute of Finance and Banking under the Chinese Academy of Social Sciences, said the use of yuan for overseas investment would only be successful if the destination country accepts the Chinese currency and how the central bank would get the yuan to flow back.

 

Hu Xiaolian, vice governor the People's Bank of China (PBOC), says China will approve the "Mini QFII (qualified foreign institutional investor)" scheme, which allows institutions to channel yuan held offshore into investments in China within certain limits.

 

MORE STORIES ON YUAN, YUAN PRODUCTS


 

Read more on

Suggested Articles

Some of you might have already been aware of the news that Questex—with the aim to focus on event business—will shut down permanently all media brands in Asia…

Some advice for transitioning into an advisory role

Global risks are intensifying but the collective will to tackle them appears to be lacking. Check out this report for areas of concern