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Index futures trading rules for foreigners underway
(Xinhua)
Updated: 2010-03-05 09:42
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Chinese authorities are making policies that would give overseas investors access to China's stock index futures trading, said a senior trader in Beijing Thursday.
Overseas investors would be able to engage in the stock index futures trading under the status of Qualified Foreign Institutional Investors (QFII), said Zhu Yuchen, general manager of the China Financial Futures Exchange and a deputy to the 11th National People's Congress.
The overseas investors should comply with the overall investment quota of $30 billion under the QFII program, he said.
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Rules that would allow funds to enter the stock index futures market are also in the making and are expected to be publicized soon, he said.
The China Securities Regulatory Commission approved the launch of stock index futures, along with margin trading, on January 8, and launched the trading accounts on February 22.
The regulator said in January that it would take about three months to prepare for the official start of stock index trading, and Zhu said the time table had not changed.
