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China suspends new applications for RQDII investment scheme: sources
[HONG KONG] China's central bank has suspended new applications for the Renminbi Qualified Domestic Institutional Investor (RQDII) investment scheme, sources told Reuters on Wednesday.
"Many Chinese institutions have made use of the RQDII channel to buy yuan bonds and certificate of deposits in the past two months," said a source at a Chinese fund house, adding the scheme had now been suspended.
China rolled out the RQDII scheme at the end of last year to allow domestic investors to buy assets in the offshore market.