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HKSAR Government welcomes lifting of Renminbi conversion limit

     The Hong Kong Special Administrative Region Government today (November 12) welcomed the lifting of the Renminbi (RMB) conversion limit for Hong Kong residents from next Monday (November 17).

     The Financial Secretary, Mr John C Tsang, said, "I am sure we are all glad to note that the 20,000 yuan daily conversion limit for Hong Kong residents will be lifted next Monday.

     "This will help facilitate the development of even more RMB investment and wealth management products. It will add further to our unparalleled edge as the world's premium offshore RMB hub and help propel the development of our offshore Renminbi business in Hong Kong to new heights.

     "I would like to take this opportunity to thank the Central People's Government for its unfailing support over the years. Hong Kong will continue to contribute to our nation's economic and financial reform, by serving as both the laboratory for new reform measures and the firewall for shielding the Mainland financial market from volatility in the international arena."

Ends/Wednesday, November 12, 2014
Issued at HKT 18:06


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