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English>>China Business

Boosted foreign capital access to support market

By Z-Ben Advisors (Shanghai Daily)

09:35, November 21, 2012

ONE topic that will be featured prominently among policy makers is the manner and speed at which financial markets will be developed. If the recent slew of reforms and programs from China's financial regulators are any indicator, officials are bent on diversifying and maturing domestic markets at a rapid pace.

It is becoming painfully clear that a larger investment scope and market maturation is necessary for China's financial system to make the next step.

Qualified Foreign Institutional Investors and its yuan equivalent, Renminbi Qualified Institutional Investors, are once again in the news, with a weekend announcement of an additional 200 billion yuan (US$32 billion) to be injected into the RQFII program.

The QFII program has also been the target of a structural revision, as China Securities Regulatory Commission has formally acknowledged that applications above US$1 billion will be considered on a case-by-case basis, with a bias towards the largest international institution al investors.

CSRC's recent roadshow for the QFII program served as a final indicator that something was in the works.

Once these new quotas go live, greater offshore access will support the development of onshore markets, inject liquidity, and help facilitate a gradual re-balancing of global investment portfolios to better reflect underlying realities.

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