'Easier' yuan spurs foreign-fund wave

Investors have pumped billions of yuan into mainland projects since Beijing allowed the local currency to be used instead of US dollars for foreign direct investment.

A total of 16.53 billion yuan (HK$20.11 billion) has flowed into 74 projects since the new FDI rule was implemented on October 14, Wang Chao, deputy commerce minister, told a Hong Kong business forum. Seventy per cent of funds have come from Hong Kong.

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