Chinese to be allowed to invest in securities traded overseas? - UOB

Analysts at UOB Group noted that China’s foreign exchange regulator is reportedly seeking State Council approval for a pilot plan to could allow Chinese to individually invest in securities traded overseas.

Key Quotes:

"The pilot program will start in cities including Shanghai and Tianjin and keep in place a $50,000 annual limit for residents seeking to convert yuan to foreign currencies. This will be a departure from strict controls on outbound investment by individuals and companies, including China’s cabinet guidelines issued on Fri to regulate overseas acquisitions by the Chinese corporates. The pilot program is expected to start only after the Communist Party Congress."