CORRECTED-China raises foreign institutional investor quota by $4.5 bln in March

Mon Mar 31, 2014 4:58am EDT

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(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)