Buying overseas eased
Print Edition
China’s foreign exchange regulator yesterday moved to assist domestic investors buy overseas securities by relaxing rules on foreign exchange for qualified domestic institutional investors.
The limits will be canceled and the procedures simplified, the State Administration of Foreign Exchange said. The administration will ensure net outflow does not exceed approved investment quotas and will step up supervision of cross-border capital flow to guard against risk. The QDII project was initiated in 2006 to allow domestic banks, fund managers and insurance companies to invest in overseas securities under a quota management mechanism.
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