摘要
Xiao Gang, chairman of China＇s securities watchdog, presented a big package of gifts to overseas investors in July by expanding both foreign-currency-denom- inated and yuan-denominated investment programmes on the mainland. Now the question is, whether such generosity can reap desirable results. On July 12, the China Securities Regulatory Commission （CSRC） announced that the Renminbi Qualified Foreign Institutional Investor （RQFII） programme, which allows investors to buy Chinese stocks and bonds using offshore yuan, would be extended to London, Singapore, Taiwan and other unspecified loca- tions. It was previously only open to investors in Hong Kong.
