China expands QDII quotas as outbound investment demand grows
China's foreign exchange regulator on Wednesday night expanded quotas under an outbound investment scheme to meet the growing demand of domestic investors.
A total of 10.3 billion U.S. dollars in quotas was granted to 17 institutions under the Qualified Domestic Institutional Investor (QDII) program, a scheme for outbound investment, according to the State Administration of Foreign Exchange (SAFE).
Among these institutions were fund companies, securities firms and insurers, as well as banks, said the regulator.
The move brought China's total QDII quota to 147.32 billion U.S. dollars.
Under the QDII program, the country's cross-border capital flows have been maintained in an orderly manner, satisfying the rising demand for outbound investment at home, said a SAFE official.
The regulator also urged institutions under the QDII scheme to conduct business in a prudent manner, optimize the allocation of overseas assets and keep an eye on risks in the sector.
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