China Sets Rules for Overseas Investments – Terence Poon and J.R. Wu

From SmartMoney.com:

China’s regulator Wednesday issued detailed rules on overseas investments of securities companies and funds, expanding its program for domestic investors.

The continued expansion of the program comes a week after the State Council, China’s Cabinet, said it will widen channels for capital outflows, as Beijing seeks to curb flush liquidity brought about by its external imbalances.

Under the rules, brokerages and funds will be able to invest in a wide range of financial products traded abroad. These include shares, , , bank deposits, bank bills, and corporate bonds, convertible bonds, and asset-backed securities. [Full Text]

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