SFC: Three companies awarded QFII qualification in first quarter

"Caixin Net" (reporter Li Yongchun) The SFC yesterday (April 11) announced the "QFII list (March 2011)" showed that the first quarter of this year, a total of three companies to qualify for QFII, as at the end of March China's QFII total has reached 109.　　These three companies are, France's leading asset management, Taiwan Polaris Securities Investment Trust Co., Ltd. and Italy Zhong Lee Insurance Co.　　Foreign investors, after acquiring a QFII qualification, usually have to wait months to obtain approval from the State administration of foreign exchange for investment quotas in order to start a portfolio investment in China.　　According to the Caixin network previously reported that as of the end of 2010, China's QFII custody line reached 13, long-term investment institutions accounted for the QFII ratio is close to 70%. China introduced the QFII system in 2003, the only way for foreign investors to buy and sell the renminbi-denominated a-share and exchange-traded bonds listed in mainland China.