Mar 19, 2013
Mar. 19, 2013 (China Knowledge) - China granted US$850 million of investment quotas to nine Qualified Foreign Institutional Investors, or QFII, in February 2012, said China's State Administration of Foreign Exchange (SAFE).
The institutions include Hansberger Global Investors Inc and Hana Daetoo Securities Co Ltd.
The SAFE had granted US$40.84 billion of quota to 186 firms as of the end of February this year to invest in China.
The QFII program, launched in 2003, is the only method through which foreign investors can trade China's domestically listed RMB-denominated A shares.
After obtaining approval from the CSRC, a QFII must wait for the SAFE to approve an investment quota before making securities investments in China.
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