China's FX regulator says fresh QDII quota allocation underway

China's foreign exchange regulator said on Friday that it is currently allocating fresh quota under the Qualified Domestic Institutional Investor scheme.

Xiao Sheng, head of the Capital Account Management Department of the State Administration of Foreign Exchange told reporters that the regulator plans to allocate QDII quotas on a regular basis, with a greater emphasis on mutual fund products.

The QDII scheme allows qualified domestic investors to invest in overseas equity and bond markets, making it one of the key channels for outbound portfolio flows.

Reuters

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