China may abolish QFII within five years, says Harvest
It's likely to be scrapped to make way for a 'free-market investing scheme' en route to capital controls being fully lifted in the next decade, says Harvest Global Investment’s Mao Shuguang.
There have been a lot of renminbi-market developments in the last two years, particularly the past three months, noted Eric Chow, deputy head of business development at HSBC, this week.
But asset managers – speaking at the 'RMB Rising' conference run by AsianInvestor and FinanceAsia in Hong Kong this week – are still waiting for further clarification on issues such as RMB usage and conversion.
“Since July we've been seeking info about conversion limitations, what RMB funds can be used…
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