RMB investment rules specified

BEIJING - China's central bank, the People's Bank of China, on Thursday detailed rules on the RMB Qualified Domestic Institutional Investors program, allowing RQDII investors to invest in yuan-denominated assets overseas but banning them from moving yuan out of the country for foreign exchange purchases.

The rules require investors to report basic information including the source and scale of yuan funds, investment plans and their overseas positions to the central bank's Shanghai headquarters.

The overseas investment activities will be subject to the central bank's macroprudential regulation based on factors such as cross-border capital flows, liquidity in the offshore RMB market, and the development of yuan products.