RMB round-up: MofCom drafts foreign investment law, BEA AM gets greenlight for Shenzhen WFOE, Chinese academic says RMB to be fully convertible in five years


The Ministry of Commerce (MofCom) completes the first draft of foreign investment law, regulators give BEA Union Investment Management the go-ahead to launch a wholly foreign owned enterprise (WFOE) in Shenzhen, and Renmin University’s vice president claims the renminbi will be fully convertible within five years.