From Financial Times:
China is to treble the amount of money that foreigners can invest in the mainland capital market, making the long-awaited announcement on the eve of this week’s economic summit between Chinese and US policymakers.
The State Administration of Foreign Exchange, the country’s foreign exchange regulator, said on its website yesterday that the quota for registered foreign investors would be increased from $10bn to $30bn.
The announcement will be welcomed by foreign investors, who have been lobbying for greater access to the mainland’s booming stock market, and comes amid signs Beijing is poised to permit further foreign investment in the domestic securities industry. [Full Text]