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CSRC grants seven QFII licenses in Jan

Feb. 10, 2012 (China Knowledge) - The China Securities Regulatory Commission (CSRC), the country's stock market watchdog, said yesterday that it granted licenses under the Qualified Foreign Institutional Investors scheme (QFIIs) to seven foreign investors in January, down from 14 licenses granted in December last year, sources reported.

The seven institutions were Shinhan BNP Paribas Asset Management Co, Stichting Pensioenfonds voor Huisartsen, South Korea's National Pension Service, Mercuries Life Insurance Co, Prudential Financial Securities Investment Trust Enterprise, U.S.-based Principal Global Investors LLC and Hong Kong's Hospital Authority Provident Fund Scheme.
So far, the total number of QFIIs had reached 142, 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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