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Investment quota granted to foreign investors surpasses $30 billion

(Global Times)

08:31, September 25, 2012

China's foreign exchange regulator said Monday that it has granted an investment quota totaling more than $30 billion to foreign investors as of last Wednesday, allowing them to participate in the country's stock and bond market.

A total of $9.18 billion worth of investment quota, including additional quotas, has been granted to 72 foreign investors from January 1 to September 19, as the country speeds up approval process for investment quota for qualified foreign institutional investors (QFIIs) this year, the State Administration of Foreign Exchange said in a statement posted on its website Monday.

China's accumulated investment quota reached $30.82 billion as of September 19, allowing 157 QFIIs to invest in the country's yuan-denominated securities, said the statement.

The country launched the QFII program a decade ago as part of the government's efforts to open up the financial markets. The QFII scheme helps facilitate capital flows in the country, enabling foreign investors to gain a license as well as an investment quota for trading in the country's securities market.

The government has shown intent to expand the program. Earlier this year, it announced to boost the maximum quota for QFIIs to $80 billion from the previous $30 billion.

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