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China forex regulator eases capital rules for foreign investors

[SHANGHAI] China's foreign exchange regulator on Thursday relaxed foreign currency management rules under the Qualified Foreign Institutional Investor scheme (QFII), in an effort to further open the domestic capital market.

The upward investment limit for QFIIs would be raised, while the quota approval procedures would be simplified, the State Administration of Foreign Exchange said in a statement on its website.

Rules restricting QFIIs from moving capital in and out of China would also be eased, the statement said.