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Finance: Unmet expectations

(Shanghai Daily)
Updated: 2006-11-24 11:16

China's system for allowing qualified domestic institutional investors (QDII) to buy overseas securities is "performing below expectations," according to an official with the country's currency administrator.

"The QDII system hasn't been functioning well because of expectations for the yuan's appreciation and the booming A-share market and the lack of innovative products," Guo Song, director of the capital accounts department at the State Administration of Foreign Exchanges, told a conference yesterday in Beijing.


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