Hong Kong residents will soon be allowed to buy and sell as much renminbi as they want after the city ditched long-standing currency conversion limits.
For the last few years, Hong Kong people have only been allowed to convert up to Rmb20,000 a day into or out of the Chinese currency. However, as of next Monday, those restrictions will disappear, writes the FT's Josh Noble in Hong Kong.
The move is designed to make it easier for people to buy and sell renminbi as and when they want, and will coincide with the launch of the Shanghai-Hong Kong stock connect equity trading scheme.
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