Faster nod for QFII to boost stocks
Print Edition
China is accelerating approval for foreign investors to tap the domestic securities market, hoping to bolster its sluggish stock market with long-term investment.
For this month China allocated US$1.7 billion in fresh quotas to Qualified Foreign Institutional Investors as of yesterday, a surge from US$450 million given out in December, according to data from the State Administration of Foreign Exchange.
The total approved quota under the QFII program amounted to US$51.4 billion.
Seven foreign institutional investors have been approved to invest in yuan-denominated stocks so far this month, according to the data.
That was an increase from five approvals in December and brought the total number of QFIIs to 235.
Foreign investors have also been quick to snap up bargains available in China’s A-share market which has been among the worst performers globally for some time now.
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