BEIJING, Oct. 10 (Xinhua) -- China's Securities Regulatory Commission (CSRC), the country's top securities regulator, has removed asset allocation restrictions on Qualified Foreign Institutional Investors (QFII) and the RMB-denominated Qualified Foreign Institutional Investors (RQFII), according to its spokesperson Deng Ge on September 30.
The move aims to give them more freedom to make investment and help introduce more long-term overseas capital into China.
In order to gradually open the capital market, China introduced QFII and RQFII programs in 2002 and 2011 respectively. Previously, the CSRC required QFII to invest no less than 50 percent of their assets into stocks. Cash ratio of QFII and RQFII should not exceed 20 percent.
By the end of August, 2016, a total of 300 overseas institutions had received 81.5 billion U.S. dollars of quota under the QFII program, while altogether 210 overseas institutions had been granted 510.3 billion yuan of investment quota under the RQFII program. (Edited by Zhang Yuan, zhangyuan11@xinhua.org)
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