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China's foreign exchange authority has awarded a total quotas of US$300 million to two qualified foreign institutional investors (QFII), Goldman Sachs Asset Management International and Government of Singapore Investment Corporation Pte Ltd.
The State Administration of Foreign Exchange said it gave a quota of US$200 million to Goldman Sachs as a QFII, and US$100 million to the Singaporean company.
Goldman Sachs was given the title of QFII last month by .
China increased its total quota for QFIIs by US$6 billion earlier this year, bringing the total to US$10 billion.
To date, overseas investors are allowed to hold tradable shares only through qualified institutional foreign investors (QFII).
The commission said that QFIIs have turned out to be playing a positive role in supporting the reform and innovation of China's capital markets since China introduced QFII on a trial basis on December 1, 2002.
QFIIs has also brought about new concept of investment and improving corporate governance of Chinese listed firms to China, the commission said.
(Xinhua News Agency November 28, 2005)
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