China securities regulator approves new QFII
Updated: 2008-04-12 12:31
BEIJING -- The Prudential Asset Management Co., Ltd. of the Republic of Korea (ROK) has been granted qualified foreign institutional investor (QFII) status, said the China Securities Regulatory Commission.
However, the commission did not reveal the investment quota for the company.
The commission has just given Columbia University QFII status in mid March, which ended the long period when no new members were added to the QFII family since October 2006, the Shanghai Securities News reported on Saturday.
China expanded its QFII quota to 30 billion US dollars from 10 billion US dollars in December, of which 9.95 billion US dollars has been used up by then.
Columbia University and ROK's Prudential are the only two companies that have obtained QFII status so far since the December quota expansion.
The latest approval brought the total number of China's QFIIs to 54. In 2006, 18 were granted QFII status.
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