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China grants 7 QFII licenses in Sep

Oct. 17, 2012 (China Knowledge) - The China Securities Regulatory Commission (CSRC), the country's stock market watchdog, has said that it had granted licenses under the Qualified Foreign Institutional Investors scheme (QFIIs) to 7 foreign investors in September.

The seven institutions were Macquarie Bank Limited, Andra AP-fonden, Hai Tong Asset Management (HK) Limited, IDG CAPITAL MANAGEMENT (HK) LIMITED, Duke University, Qatar Holding LLC and EFG Bank AG.

So far this year, 53 foreign investors had been granted licenses by CSRC leading the total number of QFIIs to reach 188.

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.

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