China to open stock and debt markets
by Brian Turner
China is reported to be ready to raise the amount foreign investors are allowed to put into the nation’s primary stock and debt markets, according to a report in the China Securities Journal.
An official of the China Securities Regulatory Commission (CSRC) said that it was “only logical” that foreign investors will have a larger role in China’s economy as it grows.
China has already given 26 foreign entities permission this year to invest a total of $4 billion in over 1,300 Chinese companies, treasuries, and corporate bonds.
That amount is expected to be raised to a total of $10 billion for the year under a qualified foreign institutional investor (QFII) program.
The QFII was launched in 2003 but had lost impetus when Beijing slowed approvals in the program.
Now, however, Beijing seems interested in attracting more foreign investment as the markets are at six-year lows, as its main index is down 13.6 percent so far on the year after a 15 percent retreat in 2004.
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