Banking News
- More overseas investment expected
Date: 1-Jun-2007 Sources: (Shenzhen Daily)
MAINLAND banks will increase the amount of client money invested abroad to several billion U.S. dollars from US$800-900 million now under the Qualified Domestic Institutional Investor (QDII) program, a senior banking regulator said Thursday.
Yin Long, a senior official with the China Banking Regulatory Commission, said only a fraction of the US$14.8 billion quota granted to banks had been ploughed into overseas markets because of the attraction of yuan assets. However, Yin said the business still had huge potential because the equities rally would peter out at some point and speculation over the yuan would die down.
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