China Pledges 20 Billion Yuan Quota for Hong Kong Investors
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Vice Premier Li Keqiang pledged an initial 20 billion yuan ($3.1 billion) quota for Hong Kong companies to invest in securities in China to support the city’s bid to become a global hub for finance in the currency.
Li’s commitment for qualified foreign institutional investors was at a government seminar in the city today. He also said that China will expand the size of offshore bond sales by Chinese companies, support the use of yuan for foreign direct investment in the nation and allow global banks to replenish renminbi capital.