HSBC said yesterday it has gained an additional quota of US$500 million under the qualified domestic institutional investor from the State Administration of Foreign Exchange.

 

The bank has gained a combined quota of US$1 billion, the most among overseas banks so far, to help pool clients' yuan assets to invest overseas. The bank has used up the first quota of US$500 million, which was approved in August 2006.

 

(Shanghai Daily November 7, 2007)