Kuala Lumpur, 23 November 2015
Bank Negara Malaysia and Securities Commission Malaysia Welcome The People’s Bank of China’s Announcement to Grant Renminbi Qualified Foreign Institutional Investor (RQFII) Quota to Malaysia
Bank Negara Malaysia and Securities Commission Malaysia welcome the People’s Bank of China’s announcement today to extend the RQFII programme to Malaysia with an aggregate quota of RMB50 billion. This represents another milestone in our country’s deepening collaboration with China, and will complement the renminbi clearing bank arrangement in Malaysia. Together, these initiatives will support the growing trade, investment and financial flows between China and Malaysia as well as position Malaysia as another offshore renminbi centre in the region.
With this framework, Malaysian qualified institutions will be able to mobilise offshore renminbi funds to gain direct exposure to the Chinese financial markets and contribute to the development of the renminbi market in Malaysia. The Securities Commission Malaysia will further collaborate with the China Securities Regulatory Commission to implement the RQFII programme.
Bank Negara Malaysia
Securities Commission Malaysia
23 November 2015