China will soon launch a new trial in six cities allowing individuals to invest directly overseas. The official Securities Times reported on Tuesday that the plan may unleash billions of dollars in Chinese savings on global stock and bond markets.
The pilot program is called The Qualified Domestic Individual Investor programme, commonly known as QDII2. It is the second part of an overseas investment scheme whose first version was limited to institutions. It will initially cover coastal cities of Shanghai, Tianjin, Shenzhen and Wenzhou, and inland cities of Chongqing and Wuhan.