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BIZCHINA / News |
China hikes QFII quotas to $30 billion(chinadaily.com.cn)
Updated: 2007-12-10 14:39 China plans to triple the quota for foreign investors to invest in the country's stock and bond markets under its qualified foreign institutional investors (QFII) scheme, regulators said Sunday. The ceiling will be increased to US$30 billion from the current US$10 billion, the State Administration of Foreign Exchange (SAFE) announced on its website. To date, a total of 49 institutions have acquired QFII quotas, and the value of their portfolio has increased to 200 billion yuan (US$26.5 billion), according to the SAFE statement. The SAFE said it will also expand offshore securities investment by qualified domestic institutional investors (QDII), including commercial banks, insurers, investment funds and securities companies. The QDII program has helped investors reduce risks by widening the investment channels of domestic capitals, and the SAFE said it will continue to help expand Chinese residents' investment in overseas stocks. The agency asked domestic financial institutions to increase their risk-management skills and offer diversified products. |
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