china mulls over expanding rqfii quotas
Last Updated : GMT 17:04:08
Arab Today, arab today
Arab Today, arab today

China mulls over expanding RQFII quotas

Arab Today, arab today

Arab Today, arab today China mulls over expanding RQFII quotas

Hong Kong - XINHUA

China is thinking of expanding RMB qualified foreign institutional investment (RQFII) and QFII quotas in the future, Chairman of China Securities Regulatory Commission Guo Shuqing said here Monday. While delivering a key-note speech in the 6th Asian Financial Forum, Guo said China will further increase the investment quota, reduce investment restrictions and lower investment threshold for the QFII and RQFII schemes. Guo pointed out that currently, the QFII and RQFII only account for around 1.5 percent to 1.6 percent of the A-share market in China. He hopes that this size will expand around 10 times in the future. China awarded nearly 16 billion U.S. dollars of quotas to foreign securities investors last year. Total quotas for QFII, launched in 2003, have reached 37.44 billion U.S. dollars at the end of last year. In addition, Guo said China will support two-way balanced portfolio investment, allowing non-residents to pursue wider rage of financial instrument in China. \"Our goal is to make it easier for non-residence to trade securities in domestic market,\" he said. According to Guo, the government will also encourage Chinese residents to participate in overseas equity and futures markets as well as provide better service to cross-border investment. \"In the future, we\'ll gradually achieve full convertible of RMB and trading in the capital market wider and deeper,\" Guo said. Themed \"Asia: Shaping the Next Global Landscape,\" the 6th Asian Financial Forum (AFF) is held in Hong Kong on Jan 14 and 15. More than 90 global finance ministers and business and financial leaders will discuss Asia\'s expanding role in the global economy at the forum.

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