Quotas in QFII rise to US$100b
Print Edition
OVERSEAS institutions have received more quotas under China’s Qualified Foreign Institutional Investor program to move money into the country’s capital account, according to official data.
A total of 287 overseas institutions had been granted quotas totalling US$100.46 billion under QFII as of June 28, up from US$99.46 billion a month earlier, data from the State Administration of Foreign Exchange showed.
As of June 28, the quotas in the RMB Qualified Foreign Institutional Investor program came in at 622.07 billion yuan (US$94 billion), up from 615.85 billion yuan in May.
Quotas under the Qualified Domestic Institutional Investor program that lets domestic investors access foreign assets, totalled US$103.33 billion, up from US$101.5 billion in May.
The yuan is convertible for trade purposes under the current account, while the capital account is largely run by the state to control inflow and outflow of capital.
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