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Chinese Authorities Speed Up Approval of QFIIs.
(From SinoCast China Business Daily News)
BEIJING, October 22, SinoCast -- With approval form China Securities Regulatory Commission (CSRC), Power Corp. of Canada and Credit Agricole Indosuez have become fresh qualified foreign institutional investors (QFII). Thus, China has approved of a total of 27 QFIIs up to now, and investment quotas for these QFIIs have arrived at USD2.85 billion.
What is more, another 10 overseas institutions are waiting for QFII licenses from CSRC.
Recently, A-share market met a downturn. Most of Chinese domestic funds have been cautious in making investments, and new funds hold more positions than before.
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