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China to increase maximum investment quota of QFII

(Xinhua)
Updated: 2009-09-04 19:37

BEIJING: China issued draft rules Friday, planning to increase the amount which an individual Qualified Foreign Institutional Investors (QFII) fund can invest in the country's financial markets.

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The upward limit of investment quota for an overseas institute under the QFII program was increased to US$1 billion from the previous US$800 million, under the draft rules, the State Administration of Foreign Exchange (SAFE) said in a statement on its website.

The QFII program was introduced in 2002 by the China Securities Regulatory Commission and the People's Bank of China, the central bank, as a provision for foreign capital to access the country's financial markets. QFII funds are allowed to invest in Chinese shares, treasuries, convertible and enterprise bonds.

SAFE was to solicit public opinion on the draft rules from September 4 to 18.