|Individuals Could Soon Invest Abroad, NDRC Suggests|
Commission, in which the nation's top economic planner discussed further economic liberalization. It said "individual investors will be allowed to conduct outbound investment".
The regulator also said in the document that it will enact regulations and implementation methods for outbound investment by companies and individuals.
The move marked a tentative step for China to ease its capital controls without committing to full capital account convertibility, experts said. China's foreign-exchange rules cap the maximum amount of yuan that individuals are allowed to convert to the equivalent of $50,000 each year. Those rules also ban them from transferring the currency abroad directly.
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Published on our website on Aug.7, 2014