China allows banks to invest in British stocks

Chinese banks will be able to invest client money in British stocks and mutual funds, China said after a striking a deal with the European nation's regulators. Britain will become only the second overseas investment destination after Hong Kong for Chinese banks, which can invest client money overseas under China's Qualified Domestic Institutional Investor (QDII) programme."The latest move will give (Chinese) investors more access to global capital markets and diversify the investment risks," the China Banking Regulatory Commission said... CNA