Regulator to increase quotas for outbound investment

BEIJING - China will increase quotas for two pilot schemes that allow domestic investors to access foreign assets, as part of its broader efforts to open up the financial market, according to the country's foreign exchange regulator.

The quota for the Qualified Domestic Limited Partnership (QDLP) program in Shanghai and the quota for the Qualified Domestic Investment Enterprise (QDIE) program in Shenzhen will be expanded to $5 billion each, the State Administration of Foreign Exchange (SAFE) said on Tuesday in an online statement.

The QDLP program was launched in Shanghai in 2013 while QDIE was launched in Shenzhen in 2014. Both schemes offer channels for qualified domestic institutions to invest overseas.