QFII quota expands to $30 billion
Anticipating the introduction of a second bourse and futures market, foreign fund managers are upbeat about the long-term outlook for the A-share market.
China's State Administration of Foreign Exchange (Safe) says it has expanded the QFII program quota from $10 billion to $30 billion. The new quota will be used to encourage long-term investments by foreign institutions. Officials say they hope the increased of foreign institutions will help stabilize the Chinese market volatility over the long term.The chairman of the China Securities Regulatory Commission, Shang Fulin, hinted on the planned increase in quota in mid-October. The agree…
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