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China freezes outbound investment quotas as outflows hurt yuan

The State Administration of Foreign Exchange hasn't granted new allocations since March
Tuesday, September 8, 2015 - 05:50
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Investors are seeking to diversify in overseas assets after the Shanghai Composite Index of shares tumbled 39% from this year's peak on June 12.

Shanghai

CHINA refrained from granting new quotas for residents to invest in overseas markets for a fifth month in August, the longest halt in six years, as authorities seek to stem weakness in the yuan.

The State Administration of Foreign Exchange, which has approved 132 local