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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

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.


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...

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