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China Granting New QDII Quota Helps Ease Yuan Gain

CHINA PRESS
MNI (Singapore)

The State Administration of Foreign Exchange's move to grant USD10.3 billion qualified domestic institutional investor (QDII) quota signaled China's resolution to facilitate the two-way capital market opening-up, the China Securities Journal reported citing analysts. Also, there are obvious signs that the yuan's recent appreciation has been excessive that had been partly driven by a short-term influx of international "hot money", the newspaper said. The timely release of the new QDII quota can promote the orderly flow of cross-border funds in two ways, the newspaper said.

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