China poised to lift restriction on QFII capital repatriation

China could be about to lift restrictions on capital repatriation applicable under the qualified foreign institutional investor (QFII) scheme, a step that could give fund managers and international asset owners more confidence to invest more into the mainland’s capital markets. That, combined with concurrent changes to foreign ownership rules of joint venture fund houses, is likely to increase the array of foreign market entrants, raising competition in the local fund market and p…