China loosened controls on foreign exchange for overseas equity investment by qualified domestic financial institutions (QDII). the State Administration of Foreign Exchange (SAFE) said in a statement Tuesday.
The SAFE removed the limit on currencies for remittance so as to facilitate the overseas arm of these institutions to provide funding and simplify QDII's application for purchase of foreign currencies and approval procedures.
CSRC to ease regulations for QDII applicants
2013-03-15Investors take a dim view of QDII funds
2013-01-30Commission approves five QFII in May
2013-06-19Copyright ©1999-2018
Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.