China’s plan to allow individual investors to buy overseas securities for the first time has not materialised yet because detailed rules are still being drafted, the country’s main stock regulator said on Thursday.

“We will continue to improve the detailed regulations,” Shang Fulin, chairman of the China Securities Regulatory Commission said at the World Economic Forum in Dalian. “This trial will be very good for the international balance of payments. But in the initial stage I believe the numbers will not be so big and the impact on the [Chinese domestic] A-share market won’t be significant.”