CSRC to Speed Up Mini-QFII Plans, Chan Says

(Corrects Wang’s title in third paragraph.)

The China Securities Regulatory Commission will speed up the implementation of mini- Qualified Foreign Institutional Investor plan in Hong Kong, Norman Chan, chief executive of Hong Kong Monetary Authority, said at a briefing in Beijing today.

The HKMA is still in discussion with China’s central bank about 2011 quota for yuan trade settlement in Hong Kong, he said. Chan also rebuked media reports that Hong Kong’s yuan trade settlement quota was used for non-trade purposes.

Chinese Vice Premier Wang Qishan said Hong Kong can best serve as a platform for yuan offhsore business, according to Chan, who met the official at a meeting today.

To contact the editor responsible for this story: Bloomberg News at swong139@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.