China has eliminated a US$1 billion ceiling on investments into its capital markets by overseas sovereign wealth funds, central banks and monetary authorities through the qualified foreign institutional investor (QFII) program, Bloomberg reported, citing a December 14 announcement by the State Administration of Foreign Exchange. QFII participants can also gradually repatriate their principal and investment returns after a lock-up period ends, with monthly net remittances of no more than 20% of their total onshore assets by the end of the previous year, according to the revised regulation. Open-ended China funds can now remit funds on a weekly basis, compared with once per month previously. The revision is part of the Chinese government’s efforts to attract more long-term investors abroad, which will help improve market confidence, promote stable growth in capital markets and provide “robust” investment returns to domestic investors, the regulator said in May.