4 days ago
China Raises Quota for Foreign Investment, Ending 13-Month Pause
China has increased the amount of money that approved investors can put into overseas assets for the first time since May last year as its relaxes its control over capital outflows.
The State Administration of Foreign Exchange raised the foreign-exchange quota for qualified domestic institutional investors to $170.9 billion at the end of June, from $167.8 billion, according to the agency's website. The increase, which the markets had been expecting, comes as depreciation pressure on the yuan has eased due to the weaker dollar, and demand for foreign assets such as US stocks has cooled.
