BEIJING, July 31 (Xinhua) -- Foreign financial institutions are expediting their paces to invest in China as seven of them have applied to the Chinese securities regulator for qualified foreign investor qualifications since the start of July, reported Xinhua Finance on Wednesday.
On Monday, German private bank Hauck Aufhäuser Lampe Privatbank AG applied to the China Securities Regulatory Commission (CSRC) to be a qualified foreign investor, shortly after its two foreign peers submitted applications of the same type on July 23 and July 25.
Qualified foreign investors here refer to qualified foreign institutional investors (QFIIs) and Renminbi qualified foreign institutional investors (RQFIIs) allowed for securities and futures investment in China by CSRC.
As a matter of fact, foreign financial institutions have scaled up their investment effort in China since the beginning of this year.
Latest data posted on CSRC's website showed that 36 foreign institutions were approved to be qualified foreign investors in the first half of 2024 and the total number of qualified foreign investors rose to 839 ones by the end of June.
Others either expanded the business scope of their foreign funded-institutions in China or upsized the registered capital of these businesses to bet more on China.
Moreover, Chinese regulators have also been optimizing related policies to improve facilitation to mid- and long-term foreign investment in China.
On July 26, Chinese central bank and the State Administration of Foreign Exchange (SAFE) released their revised rules on foreign institutional investors' securities and futures investment fund management to further optimize cross-border capital management for QFIIs and RQFIIs.
In a recent meeting with foreign-funded financial institutions held in Beijing, Wu Qing, chairman of the CSRC, expressed his hopes for related foreign-funded institutions to leverage their advantages as international investment banks and institutions adhere to the long-term development philosophy to tell China stories well.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
A single purchase
