China foreign institutional investor quota at $49.7 bln at end 2013

Thu Dec 26, 2013 8:57pm EST
 
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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.