Central bank approves investor program in 2 cities

The central bank has given approval for two cities to launch the qualified domestic individual investor program, which is now awaiting final approval from the State Council, said an official from the Guangzhou branch of People's Bank of China, Shanghai Securities News reported.

The so-called QDII2 program will be launched in Guangzhou and Shenzhen in Guangdong province, according to Wang Jingcheng, president of the central bank's Guangzhou branch. Under the program, qualified Chinese individual investors can directly inject money into foreign stock markets.