| China should increase the
qualification and quota for QDII and QFII investors to help them with
their activities, Zhou Xiaochuan, governor of the People's Bank of China,
said on Tuesday.
Administrative approval procedures for QDII
and QFII qualification and quota shall be eliminated "when conditions
are ripe," Zhou added. He made the remarks while attending the third
Sino-French Financial Forum.
In 2002, China launched the Qualified
Foreign Institutional Investor (QFII) scheme to allow licensed foreign
investors to use offshore yuan for investing in the country's capital
market.
The Qualified Domestic Institutional
Investor (QDII) scheme was launched in 2006 to allow domestic funds to be
invested abroad.
Reforms to further liberalize interest
rates, deposit rates in particular, are being considered, Zhou said.
China will relax market access to allow
private economy to set up small and medium sized financial institutions on
the condition of enhanced administrative supervision, he added.
Source from Xinhua News |
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