China foreign institutional investor quota at $49.25 bln at end Nov
BEIJING/HONG KONG, Nov 29 (Reuters) - China granted $740 million in fresh combined quotas to licensed overseas institutional investors in November, according to data released by the State Administration of Foreign Exchange (SAFE) on Friday. This increases the total quotas issued under the Qualified Foreign Institutional Investor (QFII) programme to $49.25 billion at the end of November from $48.51 billion a month earlier. The China Securities Regulatory Commission had granted seven QFII licences in October, to Singapore-based ST Asset Management, SeaTown Holdings International and CSAM Asset Management, the Thai Government Pension Fund, Hong Kong-based China Life Franklin Asset Management, U.S.-based Ford Foundation and South Korea-based UBS Hana Asset Management. This brings the licences issued this year to 41. There are now 247 licencees under the programme. November licence application results will be announced in mid-December. Institutional investors need to apply for a licence from the securities regulator to be eligible to seek investment quotas from the foreign exchange regulator.
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