CSRC Grants QFII Licenses to Eight Foreign Institutions in Aug

Source: China Securities Regulatory Commission, ChinaScope Financial (Data)

+             China Securities Regulatory Commission (CSRC) announced last night that it has granted investment licenses to 8 overseas institutional investors in August, adding the total number of Qualified Foreign Institutional Investors (QFIIs) to 181.

+             The 8 new QFIIs include: US-based Hall Capital Partners; Board of Regents of the University of Texas System; Taiwan’s Nan Shan Life Insurance Co., Ltd.; Suva, an Investment Management Corporation based in British Columbia; Value Partners Hong Kong Limited; Ontario Pension Board; and the US Church Pension Fund.

+             Data released by the State Administration of Foreign Exchange (SAFE) on August 31 shows that SAFE granted USD 1.34 billion investment quota in August. So far, a total of 152 QFIIs have been granted USD 29.87 billion investment quota.

+             Yesterday, SAFE announced that QFII’s investments in the Chinese securities market surged to USD 1.5 billion in 12Q2.

In addition to significantly lowering the QFII requirements and expanding the investment scope of the scheme, the CSRC has accelerated the number of approvals in 2012, efforts that are heralded as significant strides in opening China’s capital market.

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