CORRECTED-China raises foreign institutional investor quota by $4.5 bln in March
(Corrects amount of rise in headline and first paragraph to $4.5 bln, from $85.9 billion)
BEIJING, March 31 (Reuters) - China granted $4.5 billion in fresh quotas to licensed overseas institutional investors in March, data released on Monday by the State Administration of Foreign Exchange (SAFE) showed.
Some $53.6 billion was outstanding under the dollar-denominated Qualified Foreign Institutional Investor (QFII) programme at the end of March, and 200.5 billion yuan ($32.3 billion) was outstanding under the Renminbi Qualified Foreign Institutional Investor (RQFII) programme.
Institutional investors need to apply for a licence from the securities regulator to seek investment quotas from the foreign exchange regulator.
For a graphic on China's QFII approvals, click:
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> ($1 = 6.2122 Chinese yuan) (China economics team)