China approves US$500m QFII quotas

(Xinhua)
Updated: 2007-01-18 15:52

China has approved quotas worth US$500 million under the Qualified Foreign Institutional Investor (QFII) program, and a US$300 million quota under the Qualified Domestic Institutional Investor (QDII) program, the State Administration of Foreign Exchange said.

The regulator approved a US$100 million QFII quota for Fortis Bank, while UBS Global Asset Management (Singapore) received a US$200 million quota. GE Asset Management Incorporated also won a US$200 million quota.

The administration approved a US$300 million quota for Bank of China (HK) under the QDII program, which permits the bank to invest client funds overseas.


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