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China grants 2 QFII licenses in Jun

Jul. 12, 2012 (China Knowledge) - The China Securities Regulatory Commission (CSRC), the country's stock market watchdog, said yesterday it had granted licenses under the Qualified Foreign Institutional Investors scheme (QFIIs) to two foreign investors in June, sources reported.

The two institutions were ING Investment Management Asia Pacific (Hong Kong) Ltd and Mitsubishi UFJ Asset Management Co.

In the month of May, seven foreign institutions obtained QFII licenses.

As of June this year, 36 foreign investors had been granted licenses by CSRC, taking the total number of QFIIs to 172.

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.

The CSRC said last month that it plans to loosen rules to make it easier for QFIIs to invest in the nation's capital market, China Knowledge reported earlier.

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