China Information

Thursday, January 18, 2007

State Administration of Foreign Exchange newly approves first QFII quota in the New Year – three institutions have been granted US$500 million

Website of State Administration of Foreign Exchange yesterday showed that application by three qualified foreign institutional investors (QFII) for 500 million US dollars investment quota and opening account has been approved. So far 9.545 billion US dollars quota has been granted to QFII, approaching the total quota of 10 billion US dollars and leaving an unallocated quota of less than 500 million US dollars. The largest QFII UBS has been granted a quota as high as 1 billion US dollars. Institutions which were granted the quota yesterday include GE Assets Management, UBS Global Assets Management (Singapore) and Fortis Bank.

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