China Mulls Allowing Individuals to Invest More Abroad
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A signboard of the Shanghai Pilot Free Trade Zone in the Waigaoqiao area in Pudong, Shanghai, December 23, 2014. [Photo: CRIENGLISH.com/ Min Rui]

China is considering relaxing limits to allow individuals to invest overseas in stocks and property.

China's central bank says it is studying the possibility of allowing qualified individuals to directly buy overseas assets, including businesses, stocks and real estate through the Shanghai Free Trade Zone.

Chinese citizens currently can only make overseas investments through third parties including banks and securities firms.

China will also increase the exchange quota for its citizens in the zone.

Currently, each one only has an exchange quota of 50-thousand U.S. dollars every year.

In addition, the zone will allow more institutions and individuals to buy securities and futures in the domestic and overseas markets.

The central bank did not give a timetable for the measures.

The planned move is part of a package of financial reform measures for the Shanghai Free Trade Zone.

Its release followed a key meeting of the Communist Party of China which discussed the country's development plans for the next five years.

For more on this, CRI's Spencer Musick spoke with Mike Bastin, director of China Business Center based in London.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan