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在线翻译:
szdaily -> Markets -> 
Regulator starts vetting applications for new QDII quotas
    2018-04-16  08:53    Shenzhen Daily

THE foreign exchange regulator in China has resumed vetting quota applications under the Qualified Domestic Institution Investor (QDII) program, two industry sources said, signaling a resumption of the outbound investment program after a three-year hiatus.

China unofficially suspended QDII in 2015 when gyrations in Chinese stock and currency markets prompted capital flight. Over the past year, Chinese equities have steadied while the yuan has gained sharply against the U.S. dollar.

The State Administration of Foreign Exchange (SAFE) on Wednesday held a meeting with major financial institutions, including banks, insurers and mutual fund houses, inviting them to submit applications for QDII quotas, said the two sources with direct knowledge of the meeting.

The meeting was first reported Thursday by Shenzhen-based Securities Times.

One source, at a major insurance company, expected new quotas to be granted as early as this month, while the other source, at a mutual fund house, declined to forecast a timetable.

The quota each institution will be granted will be tied to the size of its domestic assets under management and its overseas investment capabilities, a source said.

The QDII resumption comes amid a broader deregulation of China’s financial sector. President Xi Jinping vowed earlier last week to open Chinese markets further.

The QDII program was created in 2006 to allow domestic investors to put money into overseas financial markets. About US$90 billion in investment quotas have been issued so far to China’s financial institutions. (SD-Agencies)

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