China to expand outbound investment schemes

BEIJING — China will expand the scale of two pilot schemes that allow domestic investors to access foreign assets, the country's foreign exchange regulator said on Nov 29.

The scale of the outbound investment schemes — Qualified Domestic Limited Partner (QDLP) and Qualified Domestic Investment Enterprise (QDIE) — in Shanghai, Beijing and Shenzhen will be expanded in the near future, according to the State Administration of Foreign Exchange.

The move aims to further meet domestic investors' demand for global asset allocation, it said.

The country also plans to launch the pilot QDLP program in the southern island province of Hainan and Southwest China's Chongqing municipality to better support the construction of Hainan free trade port and the Chengdu-Chongqing economic circle, according to administration.