BEIJING, March 15 (Xinhua) --- The China Securities Regulatory Commission (CSRC) has recently approved the International Monetary Fund (IMF) to access the country's capital market via the RMB Qualified Foreign Institutional Investors (RQFII) program, according to website xinhua08.com.
According to the IMF, the scheme will provide income for employees after retirement, and the form could be a lifelong pension or one-time benefits.
As a veteran multilateral organization with 189 member units and headquartered in Washington, IMF is committed to providing financial services to members when necessary, promoting international cooperation in the financial and monetary fields, and maintaining international exchange rate order, etc.
The RQFII mechanism was launched in 2011 to widen investment channels for overseas yuan funds on the Chinese mainland, allowing those qualified investors to invest in China's securities market within a permitted quota.
(Edited by Bao Nuomin, Yang Yifan, firstname.lastname@example.org, email@example.com)