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China may relax capital rules for QDII funds: report


    SHANGHAI (Reuters) - China plans to relax rules to allow smaller fund houses to launch overseas investment products, the Securities Times reported on Monday, citing an unnamed source.

    China may publish new rules governing its Qualified Domestic Institutional Investor (QDII) scheme this year that will no longer require a firm to have 20 billion yuan ($29 million) of assets under management in order to get a QDII license, the newspaper said.

    China will also lower the capital threshold for QDII, requiring that a fund house has at least 100 million yuan in net assets, compared with a minimum of 200 million yuan currently, the paper said.

    China launched the QDII scheme in 2006 to allow domestic funds to be invested abroad. (US$1=6.80 yuan)

    (Reporting by Melanie Lee and Samuel Shen; Editing by Jonathan Hopfner)