The China Securities Regulatory Commission in November approved the Qualified Foreign Institutional Investor (QFII) license to the BNY Mellon Asset Management International, the Manulife Asset Management (Hong Kong) and the Nomura Asset Management, the Shanghai Securities News reported on Tuesday.
As of the end of October, 78 QFIIs had been approved with an investment quota of $15.48 billion, Sun Lujun, a State Administration of Foreign Exchange (SAFE) official announced Monday.
Sun said that QFIIs had invested 75.6% of their total assets in the stock markets by the end of October and their bank savings had dropped from 41.8 percent at the beginning of 2009 to 16.6 percent at the end of October.
He added this indicated policies aimed at encouraging middle and long-term investors had gained some effects and that QFIIs' confidence on Chinese A-share markets had been rising.
So far, there are 91 QFIIs in China with 16 gaining their qualification this year.>
