Reuters reports that the State Administration of Foreign Exchange (SAFE) said that China will allow more outbound investment by appropriately raising the quota on its Qualified Domestic Institutional Investor (QDII) scheme in 2021.

China will push forward with the opening up of its financial derivative market in 2021, Ye Haisheng, the head of capital account management department at the State Administration of Foreign Exchange (SAFE), wrote.

It will also study the impact of unconventional foreign stimulus policies on its balance of payments, yuan exchange rates and its financial markets, the official said.

The SAFE will prevent disorderly cross-border capital flows and step up its monitoring of foreign capital flows in and out of China's stock and bond markets, in order to head off systemic financial risks, Ye added.