Reuters - China Allows Offshore Yuan to be Invested PE

China has allowed overseas investors to buy stakes in unlisted companies in the country using offshore yuan, part of Beijing's efforts to promote international use of the Chinese currency, writes Reuters. The Hong Kong unit of Haitong Securities Co and Bank of Shanghai plan to raise up to $100 million in China's first fund under the so-called Renminbi Qualified Foreign Limited Partner (RQFLP) scheme, initially launched in Shanghai, writes Reuters.

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