LINE

Text:AAAPrint
Economy

China eases QFII, RQFII restrictions to open up market

1
2018-06-13 10:39:32Global Times Editor : Li Yan ECNS App Download

China said Tuesday that it will ease restrictions on foreign institutional investors in a step to open its financial market.

New rules for the Qualified Foreign Institutional Investor (QFII) and the RMB Qualified Foreign Institutional Investor (RQFII) programs will make it easier for these investors to move funds out of the Chinese mainland, according to the People's Bank of China, the central bank, and the State Administration of Foreign Exchange (SAFE). 

A 20 percent cap on the amount of capital that users of the QFII program can remit out of the country as a percentage of their total domestic assets has been removed, effective from Tuesday.

The outstanding amount of China's dollar-denominated QFII program rose to $99.46 billion as of May 31, according to SAFE.

The QFII program was created to allow foreigners to invest in China.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.