China continues to lift restrictions on citizens´ overseas investment

Source: Xinhua | 03-06-2008 11:48

BEIJING, March 6 (Xinhua) -- China will stick to the policy of facilitating Chinese citizens' overseas investment, said an official here on Thursday.

Zhou Xiaochuan, governor of the People's Bank of China, answers a question from  journalists during a press conference on economic and social development and  macroeconomic regulation held by the First Session of the 11th National People's  Congress (NPC) at the Great Hall of the  People in Beijing, capital of China, March 6, 2008. (Xinhua Photo)

"China will continue to lift restrictions on overseas investment of its citizens through various channels," said Zhou Xiaochuan, head of the People's Bank of China (PBOC).

The central bank governor made the remarks at a press conference held on the sideline of the annual meeting of China's top legislature, the National People's Congress (NPC).

With a rather high bank saving rate in China's gross domestic product (GDP), Zhou said it is reasonable for a considerable amount of money to be invested overseas by domestic citizens or companies of public or private ownership.

"Otherwise, the domestic investment would be overheating and production capability excessive. The overseas investment by Chinese citizens will also reduce government's overseas investment pressure," Zhou said.

He believed that aside from Hong Kong, other international markets like Japan, London and Singapore also have large potentials for Chinese mainland investors.

Editor:Zhang Pengfei