Exclusive-StanChart suspends new offshore channel investments by China clients saltwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saltwire.com Daily Mail and Mail on Sunday newspapers.
HONG KONG (Reuters) -Standard Chartered has suspended new subscriptions by its clients in China into offshore products via a quota-based channel since last week, the Asia-focused bank said in a statement to Reuters. The London-headquartered bank cited "commercial reasons" as its explanation for the suspension of new investments under the qualified domestic institutional investor (QDII) programme. StanChart's move comes amid Beijing's efforts to stem capital outflows as weaker yuan and a slowing economy have driven savers to move assets offshore.
Standard Chartered
has suspended new investments by its clients in China
into offshore products via a quota-based channel, the bank said,
amid a surge in demand for overseas investments due to.
Exclusive-StanChart Suspends New Offshore Channel Investments by China Clients usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.