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ARTICLE · 22 DECEMBER 2016

Irish Fund Managers Now Eligible For Chinese RQFII Licence

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On 21 December 2016, the People's Bank of China ("PBoC") announced that Ireland had been granted a RMB 50 billion Renminbi Qualified Foreign Institutional Investor ("RQFII") quota. Ireland is only the sixth European country to be granted an RQFII quota after the United Kingdom, France, Germany, Switzerland and most recently, Luxembourg.

IrelandFinance and Banking
Barry McGrath
Barry McGrath
Michelle Lloyd
Michelle Lloyd
Andrew Quinn
Andrew Quinn
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On 21 December 2016, the People's Bank of China ("PBoC") announced that Ireland had been granted a RMB 50 billion Renminbi Qualified Foreign Institutional Investor ("RQFII") quota.  Ireland is only the sixth European country to be granted an RQFII quota after the United Kingdom, France, Germany, Switzerland and most recently, Luxembourg.

The RQFII regime was introduced in 2011 with the aim of further opening up mainland China's securities market to foreign investment.  Under RQFII, foreign entities can invest offshore RMB in domestic securities in mainland China provided certain eligibility requirements are met. To date, Irish fund structures could only access the quota via a licence held by an asset manager in an RQFII eligible jurisdiction. This announcement means that Irish fund structures will now be able to gain direct access to the RQFII regime through an Irish RQFII quota.

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