A Robotic Helper

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A Robotic Helper

XINHUA

A humanoid robot interacts with local visitors at an administrative service center in Baofeng， central China’s Henan Province， on September 2. reforms including more openness to foreign investment and fewer restrictions on capital flows. In late 2014，Tianjin， Fujian and Guangdong were approved as locations for a second group of FTZs.

With the addition of seven more FTZs， China is hoping to press ahead with wider reforms while allowing the regions to tap their unique geographical and industrial advantages for further experiments.

“The decision to expand the FTZs shows the authorities’ strong

resolution in advancing reforms and opening up，” Gao said， adding that the FTZs will be launched following necessary procedures， but without giving a timeframe.

More Investment Quotas

China on September 5 relaxed quotas for qualified foreign institutions to invest in its stock markets in the country’s latest effort to liberalize its financial sector.

Foreign investors in the country’s Renminbi Qualified Foreign Institutional Investor （RQFII） program will be granted quota limits based on their aggregate assets， said a document from the PBOC and State Administration of Foreign Exchange.

Previously， the RQFII quota was subject to approval from financial regulators.

Institutions will still have to apply for extra investment quotas， said the document， adding that sovereign wealth funds and central banks were exempt from the restriction.

Launched in December 2011， the RQFII program aims to widen investment channels for overseas yuan funds on the Chinese mainland，opening the domestic market further and increasing the global use of renminbi.

By the end of August， China had approved over 510 billion yuan（$76.3 billion） for 170 foreign investors under the program.