QFII approvals to speed up

Updated: 2012-05-22 11:24

(China Daily)

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China will work to speed up approvals of qualified foreign institutional investors looking to buy into its domestic securities, as part of reforms to add depth to the country's capital markets.

The foreign exchange regulator has already accelerated approvals for long-term foreign investors such as pension funds, raising their initial investment quotas and simplifying procedures after the government last month more than doubled quotas for QFIIs to $80 billion from $30 billion, according to a statement posted on the State Administration of Foreign Exchange website on Sunday.