TAIPEI, July 21 Taiwan's stock market regulator
is studying a plan to ease rules to make it easier for China's
qualified domestic institutional investors (QDII) to invest in
local mutual funds, an official said on Monday, in the latest
sign of warming financial ties across the Taiwan Strait.
The proposal would put aside investment quotas for QDIIs in
Taiwan's mutual funds, said an official of the Securities and
Futures Bureau. The official declined to be identified as the
matter is yet to be made public.
Currently, Taiwan has a limit of $500 million for QDIIs to
invest in local stocks and mutual funds, among others, combined.
Taiwan allowed its banks to conduct business in the yuan in
2013, a major step in bringing financial ties closer since
President Ma Ying-jeou took office in 2008.
"We hope the more investments into the mutual fund industry,
the better," said the official, adding no other details were
available. "People in the industry have expressed a lot of
interest to see more of China's QDIIs in the market."
Taiwan's Economic Daily reported on Monday that China's
QDIIs had more than $80 billion for investments as of end-June.
(Reporting by Faith Hung; Editing by Kim Coghill)