Safe dispenses US$1.05 billion worth of new QFII quotas in September

03 October 2013   Category: News, Asia, China, Global, Hong Kong   By Asia Asset Management

China’s State Administration of Foreign Exchange (Safe) handed out a total of US$1.05 billion in QFII quotas to six foreign institutions in September this year. 
 
Among which, the Safe granted US$100 million each to three new QFII participants: Asia Capital Reinsurance Group, Keywise Capital Management (HK), and CTBC Life Insurance. 
 
Meanwhile, existing QFII institutions Fubon Life Insurance, Norges Bank, and DBS Bank were awarded additional quotas of US$150 million, US$500 million, and US$100 million, respectively. 
 
Up to the end of September, the Safe has approved a total of US$47.5 billion QFII quotas to 216 foreign institutions. 
 
As well, the Safe has handed out 6.5 billion RMB (US$1.03 billion) in RQFII quotas to seven financial entities in September. New RQFII institutions HSBC Global Asset Management (Hong Kong), Income Partners Asset Management (HK), and BOCOM International Asset Management each received 800 million RMB quotas. 
 
Existing RQFII players Fullgoal Asset Management (HK) and Guotai Junan were awarded 800 million RMB quotas each. Harvest Global Investments and Guoyuan Securities (HK) received quotas of 2 billion RMB and 500 million RMB, respectively.   
 
As of the end of September, the Safe has granted a total of 134.3 billion RMB RQFII quotas to 42 financial entities.