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CSRC grants 11 QFII licenses in Mar

Apr. 13, 2012 (China Knowledge) - The China Securities Regulatory Commission (CSRC), the country's stock market watchdog, said yesterday that it had granted licenses under the Qualified Foreign Institutional Investors scheme (QFIIs) to 11 foreign investors in March, up from five licenses granted in February, sources reported.

The 11 institutions were American International Assurance Co Ltd, American International Assurance Co Ltd, Neuberger Berman Europe Ltd, Khazanah Nasional Berhad, Capital Research and Management Co, Tokio Marine Asset Management Co Ltd, Hana Daetoo Securities Co Ltd, Genesis Asset Managers LLP, City of London Investment Management Co Ltd, JPMorgan Asset Management (UK) Ltd and Okasan Asset Management Co Ltd.
 
So far, the total number of QFIIs had reached 158, 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-shares through the program. After obtaining approval from the CSRC, a QFII must wait for the State Administration of Foreign Exchange (SAFE) to approve an investment quota before the foreign investor can start making securities investments in China.

As of Mar. 9, 2012, the SAFE had granted a total of US$24.55 billion of QFII quota to 129 institutions, including US$3.11 billion granted this year.

The CSRC earlier this month expanded the investment quota available to QFIIs to US$80 billion from US$30 billion, according to an earlier report from China Knowledge.






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