China raises foreign institutional investor quota by $3 bln in Feb

Fri Feb 28, 2014 4:27am EST
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BEIJING/HONG KONG, Feb 28 (Reuters) - China granted $3
billion in fresh quotas to licensed overseas institutional
investors in February, data released on Friday by the State
Administration of Foreign Exchange (SAFE) showed.  
    A sum of $900 million was issued under the
dollar-denominated Qualified Foreign Institutional Investor
(QFII) programme, with 12.6 billion yuan ($2.06 billion) issued
under the Renminbi Qualified Foreign Institutional Investor
(RQFII) programme.
    Institutional investors need to apply for a licence from the
securities regulator to seek investment quotas from the foreign
exchange regulator.