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The State Administration of Foreign Exchanges (SAFE) approved Hen Seng Bank to increases US$50 million as Qualified Foreign Institutional Investor (QFII) volume.
This is the newly approved QFII after China allowed the volume rising from US$4 billion to 10 billion.
China's capital market developed rapidly recently. The introduction of QFII not only increased the capital supply to domestic market, but also help regulate capital market. By the end of August, China already approved 4 billion US dollar worth of QFII investment.
(Xinhua News Agency September 26, 2005)
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