China Scraps Foreign Investment Limit in Stocks and Bonds
- QFII and RQFII programs required government approval
- It’s another step in the country’s financial opening
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China removed one more hurdle for foreign investment into its capital markets almost 20 years after it first allowed access.
Global funds no longer need approvals to purchase quotas to buy Chinese stocks and bonds, the State Administration of Foreign Exchange said in a statement on Tuesday. It removed the $300 billion overall cap on overseas purchases of the assets, about two-thirds of which remain unused.