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China's CSRC says has not suspended approvals for new QDII investment products

[SHANGHAI] China's securities regulator on Friday said it has not suspended approvals for issuance of new investment products under the Qualified Domestic Institutional Investor scheme.

China Securities Regulatory Commission (CSRC) said in a press conference transcript posted on its official blog that previous media stories stating otherwise were incorrect.

In January and February, media outlets including Caixin and Reuters published reports that regulators had asked some funds to defer issuing new products.

The Qualified Domestic Institutional Investor (QDII) programme permits registered Chinese financial institutions to invest a limited quota of funds in foreign financial assets.