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Societe Generale, Credit Suisse granted QFII licenses

(Agencies)
Updated: 2008-11-13 16:51

The China Securities Regulatory Commission said it granted approval last month to two European institutions seeking to invest in the domestic capital markets under the Qualified Foreign Institutional Investor (QFII) program.

The two companies are Societe Generale Asset Management SA and Credit Suisse.

This brings to 71 the number of participants in the QFII scheme, which was launched in 2003 as the major channel for foreigners to buy Chinese equities.

In December 2007, China expanded the overall QFII quota to $30 billion from $10 billion.