china likely to significantly expand rqfii quota
Last Updated : GMT 02:09:47
Arab Today, arab today
Arab Today, arab today

China likely to significantly expand RQFII quota

Arab Today, arab today

Arab Today, arab today China likely to significantly expand RQFII quota

London - XINHUA

China\'s securities authorities announced Saturday that it has \"agreed in principle\" to expand its RMB Qualified Foreign Institutional Investors (RQFII) pilot program by increasing the investment quota by 200 billion yuan (31.74 billion U.S.dollars). The RQFII program has faced strong demand from overseas investors since its launch late last year, and the current 70 billion yuan quota is running out due to the enthusiastic investors, said a spokesperson with the China Securities Regulatory Commission (CSRC). The RQFII mechanism, which was launched in December 2011 to widen investment channels for overseas yuan funds on the Chinese mainland, allows qualified investors to invest yuan-based funds raised in Hong Kong in the mainland securities market within a permitted quota. The government departments are also mulling over details of relevant rules of the RQFII program, such as loosening restrictions to allow more institutions to take part in the scheme, said the spokesperson. Meanwhile, the CSRC is considering implementing differential taxation on personal profits from securities trading to encourage long-term investment, which has gained approval from relevant departments, the official said. The CSRC has worked with the Ministry of Science and Technology to formulate policies that help evaluate scientific achievements or intellectual information in terms of share value or capital investment. Scientific and technical personnel in enterprises are encouraged to enjoy profits from their achievements, and their shares at the enterprises should be confirmed according to laws and regulations, said the CSRC spokesperson.  

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