China set to boost RMB transaction volumes
Cap on foreign investments by individuals in Shanghai FTZ near end
China is looking to raise the cap on foreign investments by individuals in one of its biggest free-trade zones – a move that would "materially" increase the volume of renminbi transactions, according to one analyst.
A scheme allowing individual investors in Shanghai to invest in foreign assets could launch within months, Zheng Yang, director of the Shanghai Financial Services Office, told state news agency Xinhua.
"We are working with state-level regulators on measures to facilitate foreign
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