LOC18:11
15:11 GMT
TOKYO, Nov 7 (KUNA) -- China's securities regulators are considering
speeding up Qualified Foreign Institutional Investor (QFII) approvals and
facilitating the operation of the QFII program to attract more long-term
overseas investment, Chinese state-owned Xinhua News Agency reported on
Wednesday.
Authorities have hastened QFII approvals and lowered the QFII threshold
since the beginning of the year to support the development of the domestic
capital market, an official from the China Securities Regulatory Commission
was quoted as saying on Wednesday.
The QFII program allows overseas brokerage companies, fund houses and trust
firms to invest in Chinese capital markets.
Kuwait Investment Authority (KIA) received China's QFII status in December
last year, becoming the second qualified Middle Eastern fund after Abu Dhabi
Investment Authority.
China has granted QFII licenses to 192 foreign firms since the program
started in 2002, with approval to 57 new foreign investors this year, the
report said. 82 percent of the 192 QFIIs are long-term investors, including
asset management companies, insurers and pension funds, according to official
data.
China has taken steps to attract more long-term funds. In April, the
commission raised the investment ceiling for QFIIs to USD 80 billion from USD
30 billion.
In July, China eased its investment controls on QFIIs, allowing them to
enter the interbank bond market. (end)
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KUNA 071811 Nov 12NNNN