China tipped to allow daily cross-border capital transfers

State council to make the change from a weekly basis

beijing

China's state council is on the verge of allowing foreign investors to repatriate funds on a daily basis in a significant step towards opening up the country's capital account, according to reports.

Foreign firms invest in Chinese stocks and bonds primarily through a quota system known as the Qualified Foreign Institutional Investor (QFII) scheme. Under the current set-up, however, investors are only allowed to move money in and out of China once a week, making many reluctant to use their quota

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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