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China loosened controls on foreign exchange for overseas equity investment by qualified domestic financial institutions (QDII). the State Administration of Foreign Exchange (SAFE) said in a statement Tuesday.
The SAFE removed the limit on currencies for remittance so as to facilitate the overseas arm of these institutions to provide funding and simplify QDII's application for purchase of foreign currencies and approval procedures.
CSRC to ease regulations for QDII applicants
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2013-01-30Commission approves five QFII in May
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