China Freezes Outbound Investment Quotas as Outflows Hurt Yuan

``The State Administration of Foreign Exchange, which has approved 132 local institutions to put as much as $89.99 billion in offshore assets via its Qualified Domestic Institutional Investor program, hasn't granted new allocations since March. Quotas for overseas investors to access domestic capital markets rose $16.4 billion to $140.3 billion in the period, data from the regulator show. The yuan traded 1.8 percent weaker outside of China than inside the country on Monday, indicating depreciation pressure.''