Skip to content

Nanfang Daily: State Council Considering Individual Overseas Investment System

Nanfang Daily, a daily newspaper based in the City of Guangzhou, recently reported that the State Council Executive Meeting discussed a plan to open the option for individuals to invest directly overseas. Currently only some approved organizations (QDII) are permitted to make direct overseas investments. A plan for direct individual investments to be made into the Hong Kong stock market was attempted in 2007, but was called off. It was decided that a new international investment system for individuals will be established with a carefully designed protection mechanism for medium and small investors. A clear plan for opening up capital accounts was also discussed at the Executive Meeting. The French bank Societe Generale recently released a report pointing out that, based on a series of steps the Chinese State Council took, “a five-year road map to a freely exchangeable Chinese currency (RMB) is very clear. The Hong Kong Stock Exchange is expected to be the biggest winner of these new policies. 
Source: Nanfang Daily, May 8, 2013