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China grants 8 QFII licenses in Aug

Sep. 13, 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 8 foreign investors in August.

The eight institutions were Hall Capital Partners LLC, Board of Regents of The University of Texas System, Nan Shan Life Insurance Company Ltd, Swiss National Accident Insurance Fund, British Columbia Investment Management Corporation, Value Partners Hong Kong Limited, Ontario Pension Board and The Church Pension Fund.

So far, the total number of QFIIs had reached 181, said the CSRC.

In August, China's State Administration of Foreign Exchange or SAFE granted US$1.34 billion of investment quotas. By the end of last month, the SAFE had granted a total of US$29.87 billion of quota to 152 QFIIs.

The QFII program was first launched in 2003. Overseas investors can trade China's domestically listed RMB-denominated A-graded shares through the program.

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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