Overseas investors to get breaks
21 November 2005
In an effort to breathe life into stock markets that have been Asia's worst performers, China plans to exempt profits of licensed overseas investors from capital gains tax, among other measures, Qi Bin, a deputy director at the China Securities and Regulatory Commission, told Bloomberg. Investors may also be able to sell holdings after three months, instead of one year, the report said. Meanwhile, AIG Global Investment and Temasek Holdings, the Singapore government's investment unit, were granted licenses to buy A shares, bringing the number of approved non-Chinese investors to 32.
