Reports
China Awards Record Level Of Investment Quotas To Foreign Groups
In a sign of how global firms are increasingly penetrating
China’s
once protectionist investments market, data shows that the Asian
giant granted
a record $2.75 billion in quotas to organisations such as
Barclays, JP Morgan, Citigroup,
Goldman Sachs and Standard Chartered.
A total of 192 entities received quotas, according to
figures from Reuters, citing official
regulatory registers.
In total, the quotas were granted in October to invest in
China's
stock and bond markets under the Qualified Foreign Institutional
Investor
scheme.
The authorities in Beijing
will lift the QFII investment ceiling if its current, RMB80
billion ($12.84
billion) limit is reached. As of end-October, 192 QFIIs have been
awarded $33.6
billion in quotas, Reuters said.
The country has been pushing its QFII scheme, at a time when
fund inflows have slowed due to concerns that the once red-hot
Chinese economy
is slowing, even leading to concerns about an exodus of money.
The scheme has run since 2003.
Among other firms receiving quotas, according to data
compiled from organisations such as China Securities Regulatory
Commission and State
Administration of Foreign Exchange, are Duke University;
Macquarie Bank; Generali
Fund Management; Henderson Global Investors, Investec Asset
Management and the
Monetary Authority of Singapore.
