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China approved US$2.48 bln of QFII quota to 11 firms in Nov

Dec. 12, 2012 (China Knowledge) - China had granted US$2.48 billion of investment quotas to eleven Qualified Foreign Institutional Investors, or QFII, in November, said China's State Administration of Foreign Exchange (SAFE).

The regulator granted US$100 million of new quota each to Janus Capital International Limited and Hai Tong Asset Management (HK) Limited, US$150 million to Ontario Pension Board, US$200 million to Macquarie Bank Limited, US$300 million to Suva and US$1 billion to Qatar Holding LLC last month.

Meanwhile, the Hongkong and Shanghai Banking Corporation Limited, Merrill Lynch International, Schroder Investment Management Limited, Hang Seng Bank Limited and the Korea Development Bank received a total of US$625 million additional quota.

The SAFE had granted US$36.04 billion of quota to 165 firms as of Nov. 30, 2012 to invest in China.

The QFII program, launched in 2003, is the only method through which foreign investors can trade China's domestically listed RMB-denominated A-shares.

After obtaining approval from the CSRC, a QFII must wait for the SAFE to approve an investment quota before making securities investments in China.

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