April 24, 2018 / 12:29 PM / a month ago

China's forex regulator widens quotas of two outbound investment schemes

BEIJING (Reuters) - China’s forex regulator said on Tuesday it widened the quotas of two outbound investment schemes in Shanghai and Shenzhen as part of the government’s efforts to liberalize financial markets.

The State Administration of Foreign Exchange (SAFE) said it would increase the quotas of the two schemes — Qualified Domestic Limited Partner (QDLP) and Qualified Domestic Investment Enterprise (QDIE) — to $5 billion each.

China’s financial hubs Shanghai and Shenzhen are now conducting trials on the two schemes.

"The SAFE is steadily pushing ahead with its QDLP and QDIE trials and has recently increased the pilot quotas for Shanghai and Shenzhen to $5 billion each," the regulator said on its website www.safe.gov.cn

Reporting by Zhang Min in Beijing and Lee Chyen Yee in Singapore; editing by Darren Schuettler

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