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China scraps foreign invesment cap in stocks, bonds

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BEIJING - China on Tuesday removed limits on foreign institutions wanting to invest in its stocks and bond markets, as it seeks to attract overseas investment amid a slowing economy and a trade spat w

ith the United States.

A cap on a yuan-denominated sister scheme -- the Renminbi Qualified Foreign Institutional Investor program, which allowed overseas institutions to invest in Chinese securities using the offshore yuan -- was also removed on Tuesday. The moves aim to "facilitate foreign investors to invest in the domestic securities market and enhance the depth and breadth of China's financial market opening," said Wang Chunying, a spokeswoman for SAFE.

China has recently eased restrictions on foreign investment in the financial sector, as the world's second-largest economy fights slowing growth at home and a damaging trade war with the United States.

 

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