Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Finance

    Outbound investment limits to be eased further

    By CHEN JIA | China Daily | Updated: 2020-10-23 09:17
    Share
    Share - WeChat
    Aerial photo taken on March 18, 2020 shows a container dock of Yangshan Port of Shanghai, East China. [Photo/Xinhua]

    China will further ease outbound investment limits and allow more domestic institutional investors to purchase financial assets in the global market as part of its financial market reform and opening-up, according to an official announcement.

    A senior official from the State Administration of Foreign Exchange said on Wednesday that fresh quotas worth $10 billion will be issued in several batches under the outbound Qualified Domestic Institutional Investor or QDII scheme.

    China will also expand the outbound schemes Qualified Domestic Limited Partner or QDLP and Qualified Domestic Investment Enterprise or QDIE, which are being piloted in Beijing, Shanghai and Shenzhen.

    The measures, which will be announced in a short period, will better satisfy the demands of domestic investors for financial assets in the global market, according to the SAFE.

    The above three schemes are designed for outbound investment as China has yet to fully liberalize its capital account, which records the cross-border capital flows mainly for investing in financial assets. These programs provide financial institutions with quotas to invest in bonds and stocks overseas, which come at a time when the country is stepping up efforts to open its financial market.

    Experts said that increasing the quota and expanding the pilot programs show the regulator's confidence in further opening the capital account, which will help raise demand for foreign exchange and make the renminbi exchange rate regime more balanced and market-oriented.

    Recently, financial experts stressed that the opening up of the financial sector should go hand in hand with reforms in exchange rate formation mechanism and the process of advancing capital account convertibility.

    Wang Yiming, former deputy director of the Development Research Center of the State Council, said that with the continuous improvement in China's opening-up, RMB capital account convertibility is inevitable, and China has made significant progress in promoting the convertibility of capital and financial accounts.

    "Considering the rising financial risks in the post-COVID period, it is not a good time to fully open the RMB capital account," said Wang."The financial derivatives market for risk prevention is imperfect. Risks in the international financial market may be exposed in the future given the impact of the pandemic."

    Wang said that China will promote RMB capital account convertibility in some pilot areas, including Shanghai, Shenzhen and Hainan province, and strengthen the interaction between the pilot free trade zones and offshore RMB centers.

    Data from the SAFE indicated that, by Sept 23, the foreign exchange regulator had approved $107.34 billion total quota of QDII, and $3.36 billion quota was already allocated to 18 institutions, including fund management, securities and wealth management companies.

    The QDLP program was launched in Shanghai in 2013 while QDIE was launched in Shenzhen in 2014. Both schemes offer channels for qualified domestic institutions to invest overseas. The quota for the QDLP program in Shanghai and the quota for the QDIE program in Shenzhen were expanded to $5 billion each in April 2018, according to the SAFE.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    日韩乱码人妻无码中文字幕视频 | 亚洲AV无码片一区二区三区| 国产福利电影一区二区三区久久老子无码午夜伦不 | 无码国内精品久久人妻麻豆按摩| 日韩人妻无码一区二区三区| 国偷自产短视频中文版| 日韩av无码中文字幕| 日韩人妻无码精品系列| 久久精品中文騷妇女内射| 久久久精品人妻无码专区不卡| 一本一道AV无码中文字幕| 亚洲欧美日韩一区高清中文字幕| 精品人妻少妇嫩草AV无码专区 | 亚洲人成网亚洲欧洲无码久久| 婷婷综合久久中文字幕蜜桃三电影 | 中文字幕精品久久久久人妻| 一本无码中文字幕在线观| 精品无码久久久久久国产| 亚洲av中文无码乱人伦在线咪咕 | 无码午夜成人1000部免费视频 | 亚洲精品人成无码中文毛片| 无码专区6080yy国产电影| 久久亚洲精品无码AV红樱桃| 无码粉嫩小泬无套在线观看| 无码精品A∨在线观看中文| 精品人妻少妇嫩草AV无码专区| 亚洲AV日韩AV永久无码下载| 一本大道香蕉中文在线高清 | 久久久久亚洲精品无码蜜桃| 中文字幕人妻无码一区二区三区| 精品久久久久中文字幕日本 | 亚洲精品无码你懂的网站| 99精品人妻无码专区在线视频区| 亚洲AV无码第一区二区三区 | 国产精品无码A∨精品影院| 亚洲精品无码av人在线观看| 在线欧美天码中文字幕| 久久丝袜精品中文字幕| 最近2019中文字幕免费大全5| 亚洲AV中文无码乱人伦在线观看| 麻豆国产原创中文AV网站|