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

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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.

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