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China grants US$500 mln QDII quota

Sep. 3, 2012 (China Knowledge) - China's State Administration of Foreign Exchange has announced that it granted an overseas investment quota of US$500 million to one company under the Qualified Domestic Institutional Investor (QDII) program.

The foreign exchange regulator in a statement published on its website that the quota was granted to Essence Securities Co.

As of last month, the SAFE had granted US$84.30 billion of QDII quota to 101 institutions.

The QDII scheme, launched in 2006, allows domestic institutions to invest in foreign capital markets on behalf of clients.
In the first half, QDII funds booked a profit of RMB 988 million, sources reported

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