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ARTICLE · 17 JULY 2013

Chinese Government Expands RMB Qualified Foreign Regime

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

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The Chinese government has always held a tight grip on the cross-border movement of Renminbi, but over the last years it has been slowly easing restrictions.

NetherlandsFinance and Banking
Geert Potjewijd
Geert Potjewijd
Yi Duan
Yi Duan
Sjoerd Van Elferen
Sjoerd Van Elferen
Renee Xu
Renee Xu
Author LinkedIn connections

The Chinese government has always held a tight grip on the cross-border movement of Renminbi (RMB), but over the last years it has been slowly easing restrictions. The latest step in this process is a revised RMB qualified foreign regime which permits offshore-raised RMB to be invested in Chinese companies by Chinese private equity funds and managers.

In 2002, the Qualified Foreign Institutional Investor (QFII) scheme was introduced to enable specified types of foreigners to use their offshore foreign currency for investment in the Mainland's securities market. In 2011, the RMB Qualified Foreign Institutional Investor (RQFII) scheme was introduced as a modified version of the QFII scheme, which facilitates the use of RMB held outside the Mainland for investment in the Mainland's securities market. The recent changes to the QFII and RQFII rules harmonise the two schemes to a large extent, and expand their scope.

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