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Newest QFII licenses named

By Bi Xiaoning (chinadaily.com.cn)
Updated: 2009-03-10 13:38

Three institutions got licenses of the Qualified Foreign Institutional Investor (QFII) in February, bringing the total QFII number to 79.

Related readings:  QFII investments set to soar  QFII corporate income tax set at 10%  New funds help shore up stock market  Foreign funds outperform in China rally

The China Securities Regulatory Commission (CSRC) revealed on its website Monday that the three companies are Hanwha Investment Trust Management Co, Emerging Markets Management LLC and DWS Investment SA.

In 2008, about 24 institutions got the qualification of QFII, marking the busiest year since the QFII scheme was implemented in 2003. Industry analysts said more QFII approvals could make a greater impact on the A-shares market.

Earlier, Yuan Shuqin, head of China equities at UBS, said the CSRC was dealing with about 100 QFII applications.