www.china.org.cn/english/BAT/205483.htm -
[Cached Version]
Published on: 3/31/2007
Last Visited: 3/31/2007
China plans to loosen restrictions on qualified domestic institutional investor (QDII) investment targets so that they can invest in new sectors, said Li Dongrong, vice director of the State Administration of Foreign Exchange (SAFE) on Thursday.
Li made the remarks at the 2007 China Derivatives Summit.He said that together with the China Banking Regulatory Commission and the China Insurance Regulatory Commission, SAFE is mulling over the selection of potentially profitable new sectors.
The SAFE is also considering including securities companies in the QDII system.
QDIIs are currently allowed to invest only in fixed-return financial products.
China's QDII program is still in its infancy and the products are not selling well because of the narrow investment scope, high risks, low profits and poor accessibility, he said.