China has lifted the investment restrictions on its Qualified Foreign Institutional Investor QFII and Renminbi Qualified Foreign Institutional Investor RQFII programmes.
Although largely a symbolic move, given the infrastructure already in place for cross-border trading such as the Shanghai-Hong Kong Stock Connect, it highlights Beijing's growing efforts to draw foreign capital to its onshore markets.
However, it's not two-way. Domestic asset owners are still bound by overseas investment quotas and some aren’t allowed to allocate outside of China at all, even though pressure to diversify globally is growing among Chinese institutional investors.