China to scrap foreign investment quotas in financial markets to lure more capital

  • 📰 staronline
  • ⏱ Reading Time:
  • 7 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 75%

Business News News

Business Business Latest News,Business Business Headlines

BEIJING, May 8 (China Daily/ANN) - China has decided to scrap quota restrictions on two major inbound investment schemes in a bid to further facilitate foreign institutional investors' participation in the country's financial market, authorities said Thursday.

China will remove quotas on the dollar-denominated qualified foreign institutional investor scheme and its yuan-denominated sibling, RQFII, according to the provisions issued by the People's Bank of China and the State Administration of Foreign Exchanges, which will take effect on June 6.China will also simplify outward remittance procedures for QFII's securities investment gains and lift other restrictions.

In recent years, China has been trying to gradually open up its financial sector to attract more foreign capital.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines