Qualified foreign institutional investors (QFIIs) earned more than 20 billion yuan (US$2.5 billion) in China in the past three years, said Sun Jie, an official with the China Securities Regulatory Commission.

 

By August, the QFIIs had invested 55.4 billion yuan (US$6.93 billion) in China, while their combined assets had risen to 75.5 billion yuan (US$9.44 billion), said Sun.

 

China has awarded investment quotas totaling US$7.84 billion to 48 QFIIs since 2003 when it began to allow overseas institutional investors, such as the UBS, Deutsche Bank, and Citigroup Global Markets Limited, to enter the Chinese capital market.

 

Regulators have promised to increase the quotas to US$10 billion, and have granted QFII status to new overseas investors every month this year.

 

(Xinhua News Agency September 26, 2006)