China grants licenses to 5 foreign investors in April

Five foreign institutions were granted licenses by the China Securities Regulatory Commission in April.

This allows them to buy Chinese stocks and bonds under the Qualified Foreign Institutional Investor scheme.

The licenses were awarded to Prescient Investment Management, Dongbu Asset Management Co, Janus Capital Management LLC, Mizuho Asset Management Co and Henderson Global Investors Ltd, the CSRC said on its website.

China has been stepping up efforts to expand the QFII program.

It recently raised the total maximum QFII quota by $50 billion to $80 billion, and has vowed to speed up approval procedures.

China has so far granted QFII licenses to 163 foreign investors and 129 of them had obtained combined quotas of $25.19 billion from the country's foreign exchange regulator as of April 16.

For more, click here.

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