Beijing has approved the International Monetary Fund’s (IMF) request to become a renminbi Qualified Foreign Institutional Investor (RQFII), according to an official announcement released Tuesday by the China Securities Regulatory Commission (CSRC).
With the qualification, the IMF can trade in China’s stock and bond markets with the country’s official currency, also called the yuan, under government-approved quotas. The IMF’s investment quota is not yet available.
By the end of 2018, a total of 233 overseas institutions won quotas to invest 656.7 billion yuan ($97.6 billion) in China through RQFII, according to the CSRC.
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