Plan to Allow Shanghai Residents to Invest Abroad
Published:
2011-05-23
A vice director of the Shanghai Municipal Government's Financial Service Office, told attendees at this past weekend's Liujiazui Forum that according to a proposal submitted to the State Council last year, individual investors might soon be permitted to make overseas investments in property, enterprises and immigration-related investments. The proposal would allow the investments to be made in foreign currencies but would not permit investment in financial products. The proposal follows a similar pilot project that was announced in Wenzhou earlier this year before oppposition from China's State Administration of Foreign Exchange scuttled the plan.
Source
Guangzhou Daily
Google translation
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