Morgan Stanley, Goldman get extra QFII quotas
(Sehnzhen Daily)
Updated: 2006-09-13 11:17 The foreign exchange regulator
said yesterday it has granted Morgan Stanley and Goldman Sachs Group Inc.
additional quotas to invest in China¡¯s capital markets under the Qualified
Foreign Institutional Investor (QFII) program.
Morgan Stanley received an additional 200 million U.S. dollars quota and
Goldman Sachs received an additional 150 million dollars, the State
Administration of Foreign Exchange (SAFE) said in a statement on its Web site.
SAFE said it had assigned the 200 million dollars quota to Morgan Stanley
unit, Morgan Stanley Investment Management Inc. The unit is authorized to launch
a Morgan Stanley China A-share fund, the statement said.
Morgan Stanley International controls an additional 400 million dollars in
QFII quotas, according to official SAFE data.
The new quota for Goldman Sachs increases its total QFII quotas to 300
million dollars.
The QFII program, which was launched in mid-2003, allows approved foreign
institutional investors to trade yuan-denominated A shares listed on exchanges
in Shenzhen and Shanghai.
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