BEIJING, March 4 (Xinhua) - Rules on domestic securities investment by qualified foreign institutional investors (QFII) need amendment and the relevant amendment work has been kicked off so far, said Song Liping, general manager of Shenzhen Stock Exchange (SZSE)on Thursday.
Song made the remarks against such backdrop as some Chinese listed companies called on further revision of China's rules and regulations on equity payment for M&A after they sensed imperfection of related rules during "going out" made to echo the Belt and RoadInitiative.
Earlier this year, China's foreign exchange regulator - the State Administration of Foreign Exchange (SAFE) has released rules allowing QFII to obtain quota for investment in domestic securities not exceeding a certain proportion of their assets or securities assets under their management.
Latest statistics show that new accounts opening by QFII for investing in domestic securities market has lasted for 49 months in a row. By February 24, 279 QFII had been given in total 80.795 billion US dollars of quota for investment in domestic stock market.
Industry insiders say the consecutive opening ofnew domestic stock-market-investing accounts by QFII and their increasing investments reflect that foreign investors think China's A-share market valuation is reasonable.
Besides, Gui Minjie, chairman of Shanghai Stock Exchange (SSE) said preparations for the strategic emerging industry board went well but declined to comment on registration-based stock issuance reform, adding that SSE's now focused on market regulation and supervisionstrengthening, risk control, market stability and market order maintenance. (Edited by Duan Jing, duanjing@xinhua.org)
A single purchase
