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CSRC grants QFII license to Temasek's unit

May. 10, 2012 (China Knowledge) - China Securities Regulatory Commission (CSRC), the country's stock market watchdog, has granted a qualified foreign institutional investor (QFII) license to Fullerton Fund Management, controlled by Singapore's sovereign wealth fund Temasek Holdings Pte Ltd.

Under the QFII program, Fullerton Fund Management is allowed to invest in RMB-denominated financial products, including A-shares and corporate bonds.

As of to date, CSRC has granted licenses to 166 QFIIs, 37 of which are applying for their second tranche of investment quota totaling US$12.5 billion, said a person familiar with the matter.

Total investment quota of QFIIs approved by the State Administration of Foreign Exchange (SAFE) had reached US$25.19 billion as of Apr. 16, according to official statistics.

After obtaining approval from the CSRC, a QFII must wait for SAFE to approve an investment quota before the foreign investor can start making securities investments in China, China Knowledge reported earlier.

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