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BIZCHINA / Center
China may loosen forex controls for? the individuals
By Du Xiaoli (chinadaily.com.cn)
Updated: 2007-08-17 14:27
Related readings:
?Fresh controls on foreign exchange
?China seeks more channels to use foreign exchange reserves
?Surplus in goods trade expands foreign exchange reserves
?China to set quota for foreign-exchange by individuals
The State Administration of Foreign Exchange (SAFE) is researching
further reform on individual foreign exchange management amidst
expectations of further loosening of individual foreign exchange under
capital account regulations, said Deng Xianhong, deputy administrator of
the SAFE.
The research includes individual direct investment and securities
investments. When China will open individual overseas direct investment
is still uncertain, said Deng. That mainly depends on the results of the
research and consideration of whether effective supervision can be
achieved, according to the?China Securities News.
Individual foreign exchange purchases increased 259.42 percent
year-on-year during the period from February to June this year.
Currently there are many investment options for domestic residents'
foreign exchange, including investment in B-shares, foreign exchange
financial products issued by commercial banks and various products from
the qualified domestic institutional investors.
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