European nation gets quota of $12.9b to invest in Chinese financialmarkets

China has officially granted 80 billion yuan ($12.9 billion) quota of investment to France under the Renminbi Qualified Foreign Institutional Investor program, a spokesman for the China Securities Regulatory Commission said on Friday.

The expansion is based upon the joint declaration between China and France signed in March. France is the second European country to gain RQFII quota after the United Kingdom.