Mar 27, 2015 (China Knowledge) - The China Securities Regulatory Commission, the country's securities watchdog, has said that it granted licenses under the Renminbi Qualified Foreign Institutional Investors (RQFII) program to nine institutions in Feb 2015.
These nine institutions are Investco Hong Kong Limited, MY Asset Investment Management Co., Ltd, Deutsche Asset & Wealth Management Investment GmbH, Shinhan Investment Corporation, Keywise Capital Management (HK) Limited, Heungkuk Asset Management, Aviva Investors Asia Pte. Limited, China Construction Bank (London) Limited and Target Asset Management Pte Ltd.
As at the end of Feb 2015, the CSRC had granted a total of 137 RQFII licenses, including 13 that were approved in 2015, according to the commission.
Under the RQFII program, qualified foreign investors are allowed to raise funds in RMB from Hong Kong market to invest in China's domestic securities market.