China set to increase foreign investment limits to $1 billion

There's lots of excitement in China today as regulators announced plans to increase the amount of money individual institutions are allowed to invest in the country's stock markets through the Qualified Foreign Institutional Investors program (QFII).

In a statement, the State Administration of Foreign Exchange said that the new draft rules were formulated to stimulate "medium and long-term investment" and to make investing more "convenient."