Money

Mini-QFII rules may come out before Oct

(Agencies)
Updated: 2010-09-17 15:25

Stem trade disputes, China urges US Related readings:  'Mini-QFII' program in works  China 'mini-QFII' may launch this year

China may release the regulations for its "mini-QFII (qualified foreign institutional investors)" program before the National Day holidays, the Securities Times reported Friday, citing an unnamed source close to the matter.

The mini-QFII will allow overseas institutional investors to facilitate investments of offshore yuan deposits back into mainland capital markets.

The volume of the first batch of quotas under the mini QFII would probably be around 20 billion yuan. Fund houses and securities brokerages would equally split that quota after getting approval from the China Securities Regulatory Commission, the nation's top securities regulator, the paper said.

The paper also said 80 percent of the quota would be free to be invested in China's exchange-listed bonds, and the remaining 20 percent would be allowed in stocks.