China foreign institutional investor quota at $49.7 bln at end 2013
BEIJING/HONG KONG, Dec 27 (Reuters) - China granted $450 million in fresh combined quotas to licensed overseas institutional investors in December, according to data released by the State Administration of Foreign Exchange (SAFE) on Friday. This increases the total quotas issued under the Qualified Foreign Institutional Investor (QFII) programme to $49.7 billion at the end of December 2013, from $49.25 billion a month earlier. December licence application results will be announced in mid-January. Institutional investors need to apply for a licence from the securities regulator to be eligible to seek investment quotas from the foreign exchange regulator.
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