Wednesday, May 10, 2017
China's outbound direct investment.
China has taken small step towards easing capital controls by lifting an order imposed by the People’s Bank of China in January that forbade banks from processing cross-border renminbi payments unless inflow and outflow were in balance. The move raised hopes that a stabilising exchange rate would prompt the authorities to lift restrictions on outbound direct investment (ODI) implemented since November 2016. The restrictions include closer regulatory oversight of investments outside the firm's main line of business, especially in overseas real estate, hotels and sports clubs.