Singapore Exchange Ltd has approached fund houses who have yuan exchange-traded funds listed in Hong Kong to consider the possibility of a second listing in the city-state, a senior exchange executive said on Thursday.

Another listing would provide a broader range of offshore yuan products for investors, Singapore Exchange executive vice president Chew Sutat told Reuters on the sideline of the Asia Securities Forum.

China extended a quota of 50 billion yuan ($8.22 billion) in the Renminbi Qualified Foreign Institutional Investor (RQFII) scheme to Singapore earlier this week. The scheme will let qualified Singapore-based institutional investors use offshore yuan deposits to buy Chinese stocks and bonds.

China has been gradually relaxing restrictions on the use of its currency with the view to eventually making the yuan, also known as the renminbi, fully convertible.

There are nine yuan ETFs listed in Hong Kong.

Follow us on Twitter: @ALB_Magazine.

Related Articles

Other News

Korea’s Lee & Ko adds arbitration veteran to head int’l disputes

by Sarah Wong |

South Korean law firm Lee & Ko has significantly enhanced its dispute resolution capabilities with the appointment of international arbitration expert Park Eun Young as head of the firm's international disputes group.

Other News

Kim & Chang maintains top spot in Korean M&A legal advisory

by Asian Legal Business《亚洲法律杂志》 |

South Korea's largest law firm, Kim & Chang, has retained its leading position in the country's mergers and acquisitions (M&A) legal advisory market for the first nine months of 2023, according to data released on Oct. 3.

Other News

Drew secures $3.5 bln judgment against Lim family in Hin Leong case

by Asian Legal Business《亚洲法律杂志》 |

Singapore Big Four law firm Drew & Napier has successfully represented liquidators in securing a $3.5 billion judgment against former oil tycoon Lim Oon Kuin, known as OK Lim, and his two children in Singapore's largest reported fraudulent trading case.