The China Securities Regulatory Commission (CSRC) has granted qualified foreign institutional investor (QFII) licenses to BlackRock and Amundi, Reuters reports. The respective subsidiaries, BlackRock Institutional Trust Company and Amundi Hong Kong, will now be able to invest in China’s capital markets.
The firms still require investment quotas from China’s foreign currency regulator before they can start buying Chinese stocks and bonds. The CSRC granted a combined quota of $20.7 billion to QFII investors by the end of April to invest in China’s capital markets. With the recent addition, the total number of QFII investors has increased to 115, which include Aberdeen Asset Management and Templeton Asset Management.
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