Boost for overseas funds
Source: Bloomberg News |
May 19, 2012, Saturday
|
Print Edition
Print Edition
CHINA'S securities regulator plans to lower entry barriers for overseas funds, encouraging investment in domestic securities as it seeks to broaden and deepen the country's capital markets.
China will speed up approval of so-called qualified foreign institutional investors and broaden the types of companies that are allowed to invest, according to a People's Daily article that the China Securities Regulatory Commission posted on its website yesterday. It may also grant quotas for pension funds from Hong Kong, Taiwan and Singapore under a system outside the QFII program, depending on demand, the regulator said, confirming a report in the Wall Street Journal.
CSRC Chairman Guo Shuqing said in February that the country needs to develop capital markets faster as it seeks to overhaul its economy. Authorities more than doubled quotas for QFIIs last month to US$80 billion from US$30 billion. The regulator has approved 167 institutions under the program.
China will speed up approval of so-called qualified foreign institutional investors and broaden the types of companies that are allowed to invest, according to a People's Daily article that the China Securities Regulatory Commission posted on its website yesterday. It may also grant quotas for pension funds from Hong Kong, Taiwan and Singapore under a system outside the QFII program, depending on demand, the regulator said, confirming a report in the Wall Street Journal.
CSRC Chairman Guo Shuqing said in February that the country needs to develop capital markets faster as it seeks to overhaul its economy. Authorities more than doubled quotas for QFIIs last month to US$80 billion from US$30 billion. The regulator has approved 167 institutions under the program.
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