(20 April 2005 – China) A week after ING was given the go-ahead to increase its investment quota in China, Deutsche Bank has also had its QFII (qualified foreign institutional investor) quota expanded from US$100 million to US$400 million.China has approved 26 QFIIs with a total investment quota of US$3.9 billion, meaning the US$4 billion ceiling set for the first stage of the scheme has almost been reached.
ING has a US$50 million QFII quota. The QFII scheme allows foreign banks to trade in the local currency.
Deutsche’s additional investment quota is earmarked for the China Silk Road Overseas A-Share Fund.
The QFII is set to be expanded as China further opens its doors to foreign investment in financial services.