UAE gets Rmb50bn RQFII as renminbi hub status looms

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UAE gets Rmb50bn RQFII as renminbi hub status looms

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The People’s Bank of China (PBoC) and the Central Bank of United Arab Emirates have signed a memorandum of co-operation to set up renminbi clearing arrangement in UAE. At the same time the region is set to get its first RQFII quota.

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