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New rules coming for QDII program

Update Date:2018-07-23 17:22:08     Source:www.3737580.com     Views:331

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CHINA plans to reform institutional outbound investment program but the annual US$50,000 foreign exchange quota for individuals will remain unchanged.

Pan Gongsheng, head of the State Administration of Foreign Exchange and deputy governor of the central bank, said that rules for the Qualified Domestic Institutional Investor program will be adjusted to facilitate cross-border investment and fundraising.

 

The plan for adjustment follows changes made to the Qualified Foreign Institutional Investor scheme last year that scraped case-by-case quota approval and relaxed conversion of foreign exchange.

 

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