May 6, 2019 / 11:02 AM / 18 days ago

China has approved $4.74 billion in QFII quota this year: regulator

BEIJING (Reuters) - China’s foreign exchange regulator said on Monday it has approved 13 qualified foreign institutional investors so far this year with a combined quota of $4.74 billion.

The State Administration of Foreign Exchange (SAFE) has approved 12 yuan-denominated qualified foreign institutional investors so far this year with a combined quota of $24 billion, the regulator said in a statement on its website.

SAFE said it will actively support the further opening of China’s financial markets to attract more long-term foreign investment.

Reporting by China monitoring desk and Kevin Yao; Editing by Jacqueline Wong

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