China eyes hiking foreign investment quota for markets
HONG KONG (AFP) - China could increase 10-fold the quota for foreign investors putting money into the country's stock markets, the head of its securities regulator said on Monday.
Foreign institutions - individuals are barred - can at present buy shares in the world's second-largest economy through two programmes, the main one being the Qualified Foreign Institutional Investors, or QFII, scheme.
The programmes together account for "just 1.5 or 1.6 per cent" of China's A-share market, China securities regulatory commission chairman Guo Shuqing told an economic forum in Hong Kong.
The A-share market refers to stocks denominated in the domestic yuan currency, also known as the renminbi.