CSRC grants a total of 11 QFII, RQFII licenses
18 November 2013
News, China, Global
By Hui Ching-hoo
The China Securities Regulatory Commission (CSRC) announced on November 12 that it has awarded qualified foreign institutional investor (QFII) licenses to seven overseas institutions in October, taking the total number of QFII participants to 247 as of October 31.
The newly granted QFII participants include; ST Asset Management, Thailand’s Government Pension Fund, SeaTown Holdings International, CSAM Asset Management, China Life Franklin Asset Management, the Ford Foundation, and UBS Hana Asset Management.
Meanwhile, the CSRC awarded RMB qualified foreign institutional investor (RQFII) licenses to four entities; JF Asset Management, Mirae Asset Global Investments (Hong Kong), Shanghai International Asset Management (HK), and China Evertbright Assets Management. There were a total of 39 RQFII-qualified institutions at the end of October.
The CSRC has stepped up the granting of QFII licenses in recent years to pave the way for RMB internationalisation. The regulatory watchdog approved 40 new licenses in the first ten months of this year, compared to 28 for 2011.
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