23rd Jan 2008
BEIJING, Jan 23 (Reuters) - China said on Wednesday it would speed up efforts to give banks more options for where to invest their clients' money, allowing them to diversify their portfolios in a time of increasing market volatility.
The China Banking Regulatory Commission said that it had signed an agreement with Singapore, paving the way for Chinese banks to invest in stocks and mutual funds in the city state.
That would expand beyond Hong Kong and Britain the markets in which banks can invest under the so-called "qualified domestic institutional investor" (QDII) scheme. >>>> More
