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CSRC grants 14 QFII licenses in Dec

Jan. 18, 2012 (China Knowledge) - The China Securities Regulatory Commission (CSRC), the country's stock market watchdog, said that it granted licenses under the Qualified Foreign Institutional Investors scheme (QFIIs) to 14 foreign investors in December, up from 2 licenses granted in November last year, sources reported.

The 14 institutions include Canada Pension Plan Investment Board, Van Eck Associates Corp, Hansberger Global Investors, EARNEST Partners, Bank of Thailand, Kuwait Investment Authority, Northern Trust Global Investments, Taiwan Life Insurance Co, Bank of Korea, Ontario Teachers' Pension Plan Board, Korea Investment Corp and HI Asset Management Co.

So far, the total number of QFIIs had reached 135, said the CSRC.
In the whole of 2011, the CSRC granted a total of 29 QFII licenses, including 15 granted in the first 11 months of last year.

The QFII program was first launched in 2003. Foreign investors can trade China's domestically listed RMB-denominated A-graded shares through the program.

After obtaining approval from the CSRC, a QFII must wait for the State Administration of Foreign Exchange to approve an investment quota before the foreign investor can start making securities investments in China.

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