Foreign investors get China boost
Source: Bloomberg News |
December 15, 2012, Saturday
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Print Edition
Print Edition
CHINA scrapped a ceiling on investments by sovereign wealth funds and central banks in its capital markets, part of efforts to encourage long-term foreign ownership and shore up slumping equities.
SWFs, central banks and monetary authorities can now exceed the US$1 billion limit that still applies to other qualified foreign institutional investors, according to revised regulations posted yesterday on the State Administration of Foreign Exchange's website. QFIIs can repatriate their principal and investment returns after a lock-up period ends, though the monthly net remittances cannot exceed 20 percent of their total onshore assets as of the previous year, according to the rules. Open-ended China funds can remit funds on a weekly basis now compared with monthly earlier.
SWFs, central banks and monetary authorities can now exceed the US$1 billion limit that still applies to other qualified foreign institutional investors, according to revised regulations posted yesterday on the State Administration of Foreign Exchange's website. QFIIs can repatriate their principal and investment returns after a lock-up period ends, though the monthly net remittances cannot exceed 20 percent of their total onshore assets as of the previous year, according to the rules. Open-ended China funds can remit funds on a weekly basis now compared with monthly earlier.
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