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ICBC (Europe) gets RMB4 bln RQFII quota

BEIJING
2015-12-02 11:11

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The Industrial and Commercial Bank of China (Europe) S.A. (ICBC (Europe) S.A.), a Luxembourg-based operating arm of China's biggest lender ICBC, has got four billion yuan of investment quota under China's RMB Qualified Foreign Institutional Investor (RQFII) program.

The ICBC (Europe) got the approval from the State Administration of Foreign Exchange (SAFE) on November 27, making it the first Luxembourg-registered institution to get RQFII quota since China expanded the RQFII program to Luxembourg in April this year, said the bank.

The bank has planned to issue a new fund to track Chinese mainland's markets with the approved RQFII quota, said the bank.

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