CHINA outlined plans to allow citizens to invest in overseas stocks and property as well as let the nation’s companies sell yuan-denominated shares abroad, furthering efforts to internationalize its currency.

    Chinese nationals will be able to buy equities and real estate via a Qualified Domestic Retail Investor (QDRI) program, Wang Dan, a deputy director general at the central bank, said Friday.

    There are also talks under way to give locals access to yuan capital markets in Singapore and London, she said, without giving any start dates or sizes for the programs.

    China is seeking to give its citizens more investment channels amid a slumping property market and increased risks from local wealth management products.

    The world’s second-largest economy is also trying to promote use of the yuan, which ranked seventh for global payments in August from 12th a year earlier.

    QDRI was the name used for a program known as the “through train,” first announced in August 2007 and then later abandoned, that would have allowed mainland Chinese to buy Hong Kong stocks directly.

    The People’s Bank of China said in January 2013 it had started preparations for a trial expansion of the Qualified Domestic Individual Investor (QDII) program to enable some individuals to invest in capital markets abroad. (SD-Agencies)