China’s government plans to make it easier for individuals & companies to invest overseas

Via the Wall Street Journal, sourced from "Chinese officials with knowledge of the matter":

• China's campaign to turn the tightly controlled yuan into a global currency is crossing a new threshold
• The government plans to make it easier for individuals and companies to invest overseas
• The latest initiative is expected to be announced in the next few weeks by the State Council (China's cabinet)
• Will allow individual Chinese and businesses to directly purchase stocks, bonds and real estate in foreign markets
• Removing limits on such transactions,
• Though initially limited to people and businesses in certain designated free-trade zones, the proposal can be scaled up over time, the officials said

More (but it may be gated): China to Ease Limits on Overseas Investments