China foreign institutional investor quota at $49.25 bln at end Nov

Fri Nov 29, 2013 4:08am EST

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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