Renminbi Currency Risk. Renminbi is currently not fully freely convertible and conversion of Renminbi through banks in Hong Kong SAR is subject to a daily limit. You should allow time for exchange of Renminbi from/to another currency of Renminbi amount exceeding the daily limit. For Renminbi products which are not denominated in Renminbi or with underlying investments which are not Renminbi denominated, such products will be subject to multiple currency conversion costs involved in making investments and liquidating investments, as well as the Renminbi exchange rate fluctuations and bid/offer spreads when assets are sold to meet redemption requests and other capital requirements (e.g. settling operation expenses). The Mainland China government regulates the conversion between Renminbi and other currencies. If the restrictions on Renminbi convertibility and the limitations on the flow of Renminbi funds between Mainland China and Hong Kong SAR become more stringent, the depth of the Renminbi market in Hong Kong SAR may become further limited.
Appears in 4 contracts
Samples: Client Agreement, Client Master Agreement, Client Agreement
