SHANGHAI: China’s central bank has approved plans to launch a new pilot programme allowing individual households to make financial investments overseas, state media reported, in the latest sign of progress towards capital account liberalisation.
The plan had been submitted to the State Council, China’s cabinet, for final approval, the official Shanghai Securities News quoted Wang Jingwu, president of the Guangzhou branch of the People’s Bank of China, as saying at the Guangdong province Financial Work Meeting on Monday.