YUAN MAYBE CONSIDERED FOR OVERSEAS INVESTMENT

-September 2, 2010

Hu Xiaolian, who is the Vice governor of the central bank, People’s Bank of China(PBOC) has said on tuesday that China will continue to loosen their restrictions on cross-border yuan flows and also consider allowing companies to possibly use yuan for their overseas investments.

The National Business Daily in China also reported yesterday that Hu Xiaolian also announced that China will approve the “Mini QFII (qualified foreign institutional investor)” scheme, which are schemes that are designed to allow institutions to channel overseas yuan deposit into investments in China within certain limits.