Central bank considers removing QDII, QFII restrictions  

央行：擇機取消QFII和QDII資格額度審批

中國人民銀行官網昨日發布《中國人民銀行年度報告2013》。年報表示，今年將積極穩妥推進人民幣資本項目可兌換，進一步擴大合格境內機構投資者(QDII)和合格境外機構投資者(QFII)主體資格，增加投資額度；條件成熟時，取消資格和額度審批，將相關投資便利擴大到境內外所有合法機構。[查看全文]

(ECNS) -- When conditions are ripe, China will remove administrative approval procedures for Qualified Foreign Institutional Investor (QFII) and Qualified Domestic Institutional Investor(QDII) qualification and quotas, according to the central bank's 2013 annual report released on Wednesday.

The People's Bank of China says it is considering the establishment of an interconnection mechanism over domestic and overseas equity markets, and gradually relaxing the restrictions on overseas agencies' issuance of RMB bonds.

China will also step up efforts to make its currency, the renminbi or yuan, convertible under the capital account, a significant move in tackling major economic problems the country faces, the report says.

China launched the QFII scheme to allow licensed foreign investors to use offshore yuan for investing in the country's capital market in 2012, and the QDII in 2006 to allow domestic funds to be invested abroad.