Australia Becomes Approved Investment Destination for China

On 11 June the Australian Treasurer, Mr Wayne Swan, announced that following his meeting in Beijing with Mr Liu Mingkang, Chairman of the China Banking Regulatory Commission (CBRC), Australia had become an approved investment destination under the Qualified Domestic Institutional Investor (QDII) scheme. This will enable investment in Australia by entities regulated by the CBRC.

“Recognition of Australia under the QDII scheme, as administered by the CBRC, will create new opportunities for Australia's fund management industry to provide their services to Chinese investors seeking Australian investment opportunities,” Mr Swan said. “This initiative will also add liquidity to the Australian capital market and open the way for broader investment choices for Chinese investors."

“This outcome will be warmly welcomed by the Australian fund management industry and was recently highlighted as key priority for this trip by my Financial Sector Advisory Council,” he added.

“The increased inward Chinese investment into Australia will further strengthen and deepen the already growing and important financial and economic relationship between Australia and China,” Mr Swan said. “This announcement further demonstrates the quality of Australia as an investment destination and also demonstrates our nation’s quality regulatory framework for financial services.”

During his visit Mr Swan also met Mr Li Keqiang, Vice Premier of the State Council, Mr Xie Xuren, Minister of Finance, and Mr Zhang Ping, Chairman National Development and Reform Commission (NDRC), Mr Chen Deming, Minister of Commerce, and Mr Zhang Zhijun, Vice Minister of the China Communist Party's International Department. He also delivered a speech at the Central Party School.

For further information, please contact Ms Willow Li, Research Assistant
(Tel: 020 3814 0186, E-mail: [email protected])