Allowing mainland residents to invest in offshore securities and insurance policies would mark a milestone in China’s foreign exchange deregulation and create an institutionalised channel for mainland investors to participate directly in global financial markets. Photo: EPA
Opinion
Opinion
China signals real financial opening up, but will it follow through?
- Idea of allowing people to change yuan into other currencies and then decide what offshore assets to buy is revolutionary
- Immediate monetary impact of a relaxation would be limited because many affluent Chinese have invested overseas anyway
