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China eases restrictions on foreign investors’ capital flows

"The State Administration of Foreign Exchange published new revised rules that will allow foreign investors to transfer money overseas more easily, taking immediate effect.

As Caixin reports, the rules put an end to the previous 20% monthly cap on moving assets out of China’s mainland, as stipulated by the Qualified Foreign Institutional Investor (QFII) program, as well as other features such as the three-month lockup period for investments.

Investors participating in the program, and its yuan-denominated version RQFII, will be free to move money between Chinese and overseas accounts depending on their requirements and can hedge against movements in foreign exchange.

According to official data, QFII and RQFII had received totals of $99.46 billion and $96.2 billion respectively as of the end of May."
Antwort auf Beitrag Nr.: 57.917.283 von Popeye82 am 06.06.18 07:28:24China’s debt activity falls, to two-year low, in May

"The new rules introduced by the Chinese government in recent months aimed at restricting sources of debt financing seem to be taking effect, as total social financing fell considerably during May, according to data from the People’s Bank of China released Tuesday.

Total Social Financing, or TSF, came in at RMB 761 billion ($119 billion) last month, the lowest posting for almost two years. Analysts have pointed to a precipitous decline in bond financing, and particularly shadow banking, as the primary cause.

In terms of growth, this means that May’s increase in TSF slowed to 10.3% year-on-year from 10.5% in April amid the tighter monetary conditions and regulations. Asset management products have been hit with new rules to break implicit guarantees, stem the growth of non-standardised debt assets, and bring more activity onto the balance sheet.

Whilst bank lending grew by 38%, off-balance-sheet lending, namely entrusted loans, trust loans and bank acceptance bills, fell by RMB 421.5 billion in May. Corporate bond financing also fell RMB 43 billion, the largest drop in 12 months."

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