China Gives Chile's Institutional Investors 50 Bln Yuan Quota

(Beijing) – China has granted a 50 billion yuan quota to institutional investors in Chile under a program that allows foreigners to buy stocks and bonds with their yuan holdings, bringing the total that overseas investors can spend on securities in the country to more than 1 trillion yuan.

The Renminbi Qualified Foreign Institutional Investors (RQFII) was launched in 2011 so foreign investors could use their yuan holdings to buy stocks and bonds in the Chinese market, which they otherwise have no access to because of restrictions on cross-border capital flows.