Chinese investors rush into US stocks as Beijing opens wider path overseas

Chinese investors are rushing into foreign assets — especially U.S.-focused QDII funds and Nasdaq ETFs — after regulators raised the outbound quota to a record $183 billion.
Fund managers scrambled to curb inflows, repeatedly loosening then sharply tightening daily subscription limits (e.g., a Nasdaq fund’s cap briefly rose from 10 to 5,000 yuan before being cut to 100).
The move is driven by rock-bottom domestic yields and a lagging local market vs. U.S. gains, with some U.S.-bound ETFs trading at large premiums (one Nasdaq tech ETF at about a 24% premium).