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China's approved QFII quota up in January
Last Updated: 2019-02-01 09:12 | Xinhua
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China's dollar-denominated Qualified Foreign Institutional Investors (QFII) program saw its approved quota continue to rise in January, official data showed.

As of the end of January, the QFII quota stood at 101.35 billion U.S. dollars, up from 101.06 billion dollars a month ago, according to the State Administration of Foreign Exchange.

Meanwhile, the quota in the RMB Qualified Foreign Institutional Investors (RQFII) program came in at 648.67 billion yuan (96.78 billion U.S. dollars).

China's currency, the yuan, is convertible for trade purposes under the current account, while the capital account, which covers portfolio investment and borrowing, is largely run by the state in an effort to manage capital flows in and out of the country.

The QFII and RQFII programs, introduced in 2003 and 2011 respectively, allow overseas institutional investors to move money into China's capital account for investment.

Thursday's data also showed the Qualified Domestic Institutional Investor program, a scheme that allows domestic investors to access overseas assets, remained at 103.23 billion U.S. dollars.

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China's approved QFII quota up in January
Source:Xinhua | 2019-02-01 09:12
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