|
| If only the RQFII programme was this balanced
|
Lawyers in Beijing have branded China's pilot Renminbi qualified foreign institutional investors (RQFII) programme as unfair and ineffective.
In December, the China Securities Regulatory Commission (CSRC), the People's Bank of China (PBOC), and the State Administration of Foreign Exchange (Safe) launched the RQFII scheme.
Under the programme authorised entities, with the approval of CSRC through a quota granted by Safe, are allowed to use RMB funds raised in Hong Kong...