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Individual Chinese to be allowed to invest abroad, hints NDRC

BritCham / CBBC
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The following summary appeared in Weber Shandwick's Daily China News Brief on 7 August 2014, based on this article in the China Daily on the same day.
 
A “long” document released on Tuesday by China’s National Development and Reform Commission (NDRC) subtly pointed to the possibility of Chinese individuals being allowed to invest abroad as early as this year. 
 
Without any additional elaborations on when and how it will happen, the report contains the phrase “individual investors will be allowed to conduct outbound investment.” Since the document focuses on the NDRC’s key agenda for the second half of 2014, the phrase implies that this type of policy could go into effect before the end of the year. 
 
Analysts remarked that this marks a potential step for China to ease its capital controls without committing to full capital account convertibility. As Chinese policymakers seek to boost the globalisation of their currency, they have allowed freer movement of capital into and out of China.
 
They have also been nurturing the development of their second Qualified Domestic Individual Investor programme (QDII2), which was launched last year and is designed to allow individuals to invest in overseas capital markets – analysts believe the most recent statements imply that the programme may be developed faster than anticipated.
 
Read the document in question, entitled "Further Increasing the Level of Opening-Up", on the NDRC's website here (in Chinese).
 
To meet Chinese investors and capitalise on the growing tide of outbound Chinese investment in the UK and in third countries, please see details of CBBC's China Outbound programme here.
 
CBBC's flagship annual China Outbound Conference will be held in Beijing on 22 October, enabling British and Chinese companies to meet and explore investment partnerships on the world stage.
 
For more details of China Outbound, please contact shu.xie@cbbc.org.cn in China, or laura.bewley@cbbc.org in the UK.
 
 
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