March 30, 2011 / 7:05 AM / 7 years ago

China approves $750 mln QFII quotas in Q4

 SHANGHAI, March 30 (Reuters) - China granted $750 million in
new quotas during the fourth quarter of 2010 for foreign asset
managers to invest in its capital markets, official data from
the foreign exchange regulator showed.	
 The new quotas, under the "Qualified Foreign Institutional
Investor" (QFII) scheme, bring the total amount of foreign funds
that can be invested in China's stock and bond markets through
the scheme to $19.72 billion.	
 Under QFII, approved institutions may invest in Chinese
capital markets within quotas set by the State Administration of
Foreign Exchange (SAFE), the foreign exchange regulator.	
 Two Chinese institutions were also given $400 million in
quotas during the fourth quarter to invest overseas through a
mirror programme, dubbed the Qualified Domestic Institutional
Investor (QDII) scheme.	
 Guotai Junan Securities and Orient Securities each obtained
a QDII quota of $200 million in the fourth quarter, bringing the
total amount of quotas under that scheme to $68.36 billion as of
the end of 2010.	
 Some fund managers have predicted that the number of QDII
funds could double this year to more than 60, even as asset
managers struggle to attract retail interest towards QDII
products. [ID:nL3E7ES0BW]	
 Company                         New QFII quota
 OFI Asset Management            $150 mln
 Aberdeen                        $200 mln
 BNY Mellon                      $150 mln
 Fidelity (Hong Kong)            $150 mln
 Daiwa Securities*               $100 mln
 Company                         New QDII quota
 Guotai Junan Securities         $200 mln
 Orient Securities               $200 mln
 * Additional quota, bringing Daiwa's total to $200 million	
 Full list of QFII quotas (in Chinese):	
 Full list of QDII quotas (in Chinese):	
 (Reporting by Soo Ai Peng; Editing by Jason Subler and Ken

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