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Finance

MUFG granted access to China bond and equity markets

Japan's top bank obtains world's largest $870m investment quota

Mitsubishi UFJ will be the second Japanese bank to join the RMB Qualified Foreign Institutional Investor framework. (Nikkei Montage)

TOKYO -- Japan's top lender MUFG Bank has obtained a quota under the Renminbi Qualified Foreign Institutional Investor scheme, a legal framework that allows overseas investors to buy bonds and stocks in China.

MUFG will be able to invest up to 6 billion yuan ($867 million), the largest quota of any bank. It is the second Japanese bank to receive a quota, after Sumitomo Mitsui Banking Corp. The change will drive more investment to Chinese companies as it becomes easier for institutions to invest directly from Japan.

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