CHINA: Increased Quotas for Qualified Foreign Institutional Investors Approved

Tuesday February 28 2017

China`s foreign exchange regulator (SAFE) has approved increased quotas for foreign investment in the country`s onshore financial market, official data has shown.

As of Feb. 27, 278 Qualified Foreign Institutional Investors (QFII) have received quotas amounting USD 89.21bn, up from USD 87.31bn registered at the end of January, according to the State Administration of Foreign Exchange (SAFE).

In total, 181 overseas institutions have received quotas amounting to 541.13bn yuan (USD 80.75bn) under the RMB Qualified Foreign Institutional Investors (RQFII) program.

The RQFII program allows institutional investors with offshore Renminbi deposits to invest in China`s onshore market.

The RQFII program is currently open to 18 countries and regions, including Britain, Singapore, France, the Republic of Korea, Germany, Qatar, Canada, Australia and Luxembourg as well as China`s Hong Kong Special Administrative Region.

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