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France Welcomes 80 Billion RQFII Quota

According to a joint announcement by China and France, France has been granted a RQFII quota of RMB 80 Billion.

France is now, after the UK, the second European country to get RQFII quota.

China and France agree to continue to hold talks on the establishment of yuan clearing and settlement arrangements in Paris.

Paris is likely to join Hong Kong, London(80 Billion RMB) and Singapore(50 Billion RMB) as the next Offshore RMB centers .

According to SAFE compiled data, by 2014/2/28, the RQFII scheme has a total of 59 institutions with 180.4 Billion RMB (~30 Billion USD)in quota.