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February 2024
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AAM Magazine
February 2024
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SAFE grants new QFII quotas to 12 entities

China’s State Administration of Foreign Exchange (SAFE) dished out a fresh batch of QFII quotas to 12 foreign institutions in December, boosting accumulated quotas the bureau granted to 279 overseas entities under the QFII scheme to US$81.07 billion.

SAFE said on its website on Monday (December 28) that it handed out quotas of $700 million and $100 million to two QFII rookies Fidelidade-Companhia de Seguros, S.A. and General Oriental Investments, S.A., respectively.

In addition, the bureau also disbursed additional quotas to ten existing QFII players - GF International Investment Management, CSAM Asset Management Pte, Skandinaviska Enskilda Banken, Greenwoods Asset Management Hong Kong Ltd., Taikang Asset Management (HK) Company Ltd., CMS Asset Management (HK) Co, SUVA, Aviva Investors Global Services Ltd., ABU Dhabi Investment Authority, and HSBC Global Asset Management (Taiwan) Ltd.

Meanwhile, SAFE granted RQFII quotas of 7.8 billion RMB ($1.25 billion) to three offshore asset managers, Korea’s ASSETPLUS Investment Management Co Ltd, Paris-based Amundi Asset Management, and UK-registered GF International Asset Management (UK) Company Ltd.

The granting coincided with the Chinese government pressing ahead with RQFII scheme abroad at which Beijing recently struck an agreement with United Arab Emirates (UAE) to allot 50 billion RMB investment quotas under RQFII programme to UAE.

Up to the end of December 28, SAFE has granted a total of 444.3 billion RMB in RQFII quotas to 156 institutions registered in ten jurisdictions including Hong Kong, Korea, Canada, the UK, Singapore, and Germany.