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China grants US$250-mln QFII quota to 3 firms

Mar. 8, 2012 (China Knowledge) - China's State Administration of Foreign Exchange has granted US$250 million of investment quotas to three Qualified Foreign Institutional Investors, or QFII, sources reported.

The regulator granted US$100 million of new quota to Taiwan's China Life Insurance Co, US$50 million to the Princeton University and US$100 million to Government of Singapore Investment Corporation Pte Ltd.  

The China Securities Regulatory Commission, or CSRC, the country's stock market watchdog, had granted 142 QFII licenses at the end of January, while the State Administration of Foreign Exchange had granted US$22.69 billion quota to 121 of the 142 firms as of Mar. 7, 2012 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 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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