China raised quota for outbound investment scheme amid yuan's appreciation

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China’s foreign exchange regulator raised the total quota under an outbound investment scheme by another $10.3 billion, allowing more domestic money to be channeled into offshore financial markets amid the sharp appreciation of the Chinese yuan.

The State Administration of Foreign Exchange (SAFE), the nation’s foreign exchange regulator, approved fresh quotas for 17 institutions under the Qualified Domestic Institutional Investor (QDII) program, bringing the total quota to $147.3 billion.

The latest move was the seventh and largest increase since September, when China resumed new quota issuance after a 16-month pause . . .

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