RMB needs closer look, says HSBC
NEWS
Qu said China's $1 trillion FX reserves need to be looked at in the context of the country's regulatory regime, adding that the QDII regulation will play a key part in determining how the currency evolves. The QDII scheme was implemented in May to help ease China's FX reserves, and allows domestic companies to invest overseas in foreign currencies.
With the implementation of QDII, domestic entities can take a small percentage of their savings and put it toward overseas investment. "QDII is a
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