|
On November 2nd , 2015, Industrial and Commercial Bank of China (Europe) S.A. (hereafter refers to as “ICBC (Europe)”) was granted the RQFII (RMB Qualified Foreign Institutional Investor) license by the China Securities Regulatory Commission. In April 2015, the Chinese government announced to extend the RQFII quota of 50 billion RMB to Luxembourg. As a major player of the cross-border RMB business in Europe, ICBC (Europe) made a quick decision to apply for the RQFII license and quota. As a result, it successfully moved into the first group of RQFII holders in Luxembourg.
According to the responsible person of the bank, ICBC (Europe) is about to launch new sub-funds within its current UCITS SICAV after being granted as the RQFII in Luxembourg, which will mainly invest...
|