China Knowledge reported that China Securities Regulatory Commission the country's stock market watchdog, has said that it had granted licenses under the Qualified Foreign Institutional Investors scheme to 9 foreign investors in October.
The nine institutions were JPMorgan Asset Management Taiwan, AEGON USA Investment Management LLC, CDH Investment Advisory Private Limited, Skandinaviska Enskilda Banken AB(publ), Harvest Global Investments Limited, Greystone Managed Investments Inc, Uni President Assets Management Corporation, Daiwa SB Investments Ltd and APS Asset Management Pte Ltd.
So far this year, 66 foreign investors had been granted licenses by CSRC leading the total number of QFIIs to reach 201.
The QFII program was first launched in 2003. Foreign investors can trade China's domestically listed RMB denominated A-shares through the program. After obtaining approval from the CSRC, a QFII must wait for the State Administration of Foreign Exchange to approve an investment quota before the foreign investor can start making securities investments in China.