China Eases Grip on Outflows, Lifts Outbound Investing Quota
- Limit raised on foreign investment for first time since 2015
- Move signals China acting on pledge to open financial markets
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China granted additional quota for funds to invest in securities overseas for the first time in three years, easing capital curbs and further opening its $40 trillion financial sector.
The Qualified Domestic Institutional Investor quota was bumped to $98.33 billion as of April 24 from $89.99 billion, the first increase since March 2015, data from the State Administration of Foreign Exchange showed on Wednesday. The change followed similar approvals, which more than doubled the quota for two outbound portfolio investments, announced earlier.