June first-half QFII quota amounts to US$1.35 billion
By Richard Fu |
July 3, 2012, Tuesday
|
Print Edition
Print Edition
CHINA awarded a combined quota of US$1.35 billion to overseas investors in the first half of June under the qualified foreign institutional investor program, an amount that shows the government is accelerating the opening up of the country's capital market.
Between June 1 and June 15, the State Administration of Foreign Exchange granted new quotas to seven new institutions, including American International Assurance Co and City of London Investment Management Co, and increased quotas for three others. That compared to the US$1.52 billion in combined quotas granted in April and May, according to data by the foreign exchange regulator.
China launched the QFII program in late 2002 to allow licensed foreign investors to buy Chinese securities on the mainland. The country has so far approved 147 institutions with a combined quota of US$27.36 billion.
In April this year, the government increased the total maximum quota for QFII to US$80 billion from US$30 billion and lowered the threshold for investors seeking such a license. Especially, China will fast-track approval procedures for long-term investors such as those with sovereign background and pension funds, Sun Lujun, director of the Capital Account Management Department with the SAFE, said in May.
Between June 1 and June 15, the State Administration of Foreign Exchange granted new quotas to seven new institutions, including American International Assurance Co and City of London Investment Management Co, and increased quotas for three others. That compared to the US$1.52 billion in combined quotas granted in April and May, according to data by the foreign exchange regulator.
China launched the QFII program in late 2002 to allow licensed foreign investors to buy Chinese securities on the mainland. The country has so far approved 147 institutions with a combined quota of US$27.36 billion.
In April this year, the government increased the total maximum quota for QFII to US$80 billion from US$30 billion and lowered the threshold for investors seeking such a license. Especially, China will fast-track approval procedures for long-term investors such as those with sovereign background and pension funds, Sun Lujun, director of the Capital Account Management Department with the SAFE, said in May.
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