China’s Safe grants $1.35 billion in QFII quotas for July
01 August 2014
Category: News, Asia, China, Global, Hong Kong
By Hui Ching-hoo
China’s State Administration of Foreign Exchange (Safe) granted US$1.35 billion worth of QFII quotas to six foreign institutions in July, boosting the total allocations awarded under the scheme to 252 participants and $57.9 billion.
During the month, Safe granted a quota of $200 million each to E Fund Management (Hong Kong), Yuanta Securities Investment Trust Co, and Société Générale. Meanwhile, CDH Investment Advisory Private, Value Partners Hong Kong, and Bank Negara Malaysia were awarded quotas of US$150 million, US$100 million, and US$500 million, respectively.
Separately, Safe dished out a total of 7.3 billion RMB of RQFII allocations to seven financial institutions in July, including to new participant Enhanced Investment Products Ltd, which received a quota of 300 million RMB.
Up to the end of July, Safe had handed out a total of 257.6 billion RMB in RQFII quotas to 72 financial entities.