China to Impose HK Investment Quota – Jamil Anderlini

From Financial Times:

China is to impose a quota on on the – which will reduce capital outflows to a fraction of the $100bn-plus forecast when its outward investment scheme was announced last month.

Liu Mingkang, chairman of the China Banking Regulatory Commission, said there would be no limit on individuals. But he said there would be tight controls on the total amount.

Mr Liu said there would be a “quota in general” and when that was reached, the State Administration of Foreign Exchange would reassess market activity. [Full Text]

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