China to allow more investment abroad in 2021

BEIJING: China will allow more outbound investment by appropriately raising the quota on its Qualified Domestic Institutional Investor (QDII) scheme in 2021, an official at the foreign exchange regulator said in remarks published on Friday.

Ye Haisheng, the head of capital account management department at the State Administration of Foreign Exchange (SAFE), wrote in China Forex magazine - a publication of the administration. It will conduct feasibility studies on allowing individuals to invest in overseas securities and insurance products within an annual quota of $50,000 per person, Ye said.