Central bank considers removing QDII, QFII restrictions  

央行：择机取消QFII和QDII资格额度审批

中国人民银行官网昨日发布《中国人民银行年度报告2013》。年报表示，今年将积极稳妥推进人民币资本项目可兑换，进一步扩大合格境内机构投资者(QDII)和合格境外机构投资者(QFII)主体资格，增加投资额度；条件成熟时，取消资格和额度审批，将相关投资便利扩大到境内外所有合法机构。[查看全文]

(ECNS) -- When conditions are ripe, China will remove administrative approval procedures for Qualified Foreign Institutional Investor (QFII) and Qualified Domestic Institutional Investor(QDII) qualification and quotas, according to the central bank's 2013 annual report released on Wednesday.

The People's Bank of China says it is considering the establishment of an interconnection mechanism over domestic and overseas equity markets, and gradually relaxing the restrictions on overseas agencies' issuance of RMB bonds.

China will also step up efforts to make its currency, the renminbi or yuan, convertible under the capital account, a significant move in tackling major economic problems the country faces, the report says.

China launched the QFII scheme to allow licensed foreign investors to use offshore yuan for investing in the country's capital market in 2012, and the QDII in 2006 to allow domestic funds to be invested abroad.