Business     

China approves 2.91 bln USD QFII quotas

Xinhua, March 10, 2012

• China's State Administration of Foreign Exchange (SAFE) said Friday that so far in 2012 it has approved investment quotas of 2.91 billion U.S. dollars to 23 Qualified Foreign Institutional Investors (QFII).

  An earlier figure released by the SAFE showed the QFII quotas was 3.11 billion U.S. dollars, but the SAFE updated the figure to 2.91 billion U.S. dollars a few hours later.

  SAFE recently approved 1.86 billion U.S. dollars in investment quotas to 12 QFIIs during SAFE's QFII review meeting.

  SAFE said it will moderately speed up QFII approvals and enhance the transparency of information publication, so as to further support the reform and development of China's capital market.

  By Friday, SAFE had granted 129 QFIIs a total investment quota of 24.55 billion U.S. dollars.

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