Singapore becomes third RQFII renminbi hub

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Singapore and China today signed a deal that will make the city state the third financial centre where institutional investors can buy renminbi-denominated securities directly, alongside a raft of other co-operative measures.

In a statement, the Monetary Authority of Singapore (MAS) said the two countries had agreed a quota of 50 billion yuan ($8.2 billion) as part of China's ‘renminbi-qualified foreign institutional investor' (RQFII) programme. This allows overseas investors to use offshore ren

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