State Administration of Foreign Exchange deputy director and spokesman Li Bin said on Sept. 10 at a State Council Information Office briefing that direct investment under China’s capital account has achieved basic convertibility. He said cross-border securities investment has coalesced into an institutional arrangement centered on an institutional investor framework, mutual-access mechanisms and direct market access for overseas investors, and that cross-border financing is subject to comprehens

State Administration of Foreign Exchange deputy director and spokesman Li Bin said on Sept. 10 at a State Council Information Office briefing that direct investment under China’s capital account has achieved basic convertibility. He said cross-border securities investment has coalesced into an institutional arrangement centered on an institutional investor framework, mutual-access mechanisms and direct market access for overseas investors, and that cross-border financing is subject to comprehensive, all-flow macroprudential oversight.