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China alters FX and foreign equity rules
07 January 2011
China has issued new guidelines on FX market makers, is now allowing banks to sell currency forwards to their clients and for foreign private equity fund managers to convert money raised abroad into yuan
China has issued new guidelines on FX market makers, Reuters reports. The government will divide the market makers into several types, though all banks will be required to have a capital adequacy ratio of at least 8%, among other requirements.
The new guidelines, which will be published by the State Administration of...
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