HSBC gets new QDII quota -- china.org.cn

HSBC gets new QDII quota

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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)

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