Forex regulator abandons quota limits

China's foreign exchange regulator has decided to cancel the quota limits for foreign investors accessing mainland capital markets, a move to further open up the country's financial sector, said a statement on Tuesday.

The State Administration of Foreign Exchange announced the removal of the ceiling, or the maximum investment amount, for foreign institutions investing in the onshore markets under two major schemes - the Qualified Foreign Institutional Investor scheme and the RMB Qualified Foreign Institutional Investor scheme.

The State Council, the country's cabinet, recently approved the measure. Since then, qualified foreign institutional investors can inject funds, without certain limitations of the amount, to the bond and stock markets, according to the statement on the SAFE website.