HK finance firms question yuan scheme exclusion

Hong Kong stockbrokers and insurers voiced their disappointment yesterday at reports that only mainland firms will be approved to make yuan investments in mainland markets.

According to mainland media reports, the mainland's securities watchdog has approved the first batch of nine companies to take part in the yuan-denominated qualified foreign institutional investors (RQFII) scheme. The scheme will allow them to invest yuan held by Hong Kong or overseas investors in the mainland market.

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