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China to further expand outbound investor schemes - Xinhua

Reuters
·1-min read
FILE PHOTO: Illustration photo of a China yuan note

BEIJING (Reuters) - China plans to roll out an outbound investment scheme to new regions as it looks to meet onshore investors' asset allocation needs, official news agency Xinhua reported on Sunday.

China will expand the Qualified Domestic Limited Partner(QDLP) trials already underway in Shanghai, Beijing and Shenzhen, Xinhua said, citing an unnamed official at the foreign exchange regulator.

It will also pilot the scheme in Chongqing city and the Hainan free trade zone.

In September，the State Administration of Foreign Exchange (SAFE) granted fresh quotas under its outbound Qualified Domestic Institutional Investor (QDII) scheme for the first time since April 2019.

Last month, Xinhua said fresh quotas worth $10 billion (7.5 billion pounds) would be issued in several batches under QDII scheme.

(Reporting by Dominique Patton; Editing by Kirsten Donovan)