China to lift restrictions on citizens' overseas investment
Updated: 2008-03-06 15:17
China will stick to the policy of facilitating citizens' overseas investment, said an official in Beijing on Thursday.
"China will continue to lift restrictions on overseas investment of its citizens through various channels," said Zhou Xiaochuan, head of the People's Bank of China (PBOC).
The central bank governor made the remarks at a press conference held on the sideline of the the annual meeting of China's top legislature, the National People's Congress (NPC).
With a rather high bank saving rate in China's gross domestic product (GDP), Zhou said it is reasonable for a considerable amount of money to be invested overseas by domestic citizens or companies of public or private ownership.
"Otherwise, the domestic investment would be overheating and production capability excessive. The overseas investment by Chinese citizens will also reduce government's overseas investment pressure," Zhou said.
He believed that aside from Hong Kong Special Administrative Region, other international markets like Japan, London and Singapore also have large potentials for Chinese mainland investors.
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