November 30, 2017 / 9:17 AM / a year ago

China approves $3 bln QFII quota for S.Korea vs $900 mln previously

BEIJING, Nov 30 (Reuters) - China’s foreign exchange regulator said on Thursday it had approved a $3 billion investment quota for the South Korean central bank under its dollar-denominated Qualified Foreign Institutional Investor (QFII) programme.

That compared with a $900 million quota listed for the Bank of Korea in the China State Administration of Foreign Exchange’s previous announcement in October. The regulator provided no details on Thursday regarding the increase in the quota.

The QFII scheme was created by China to allow foreigners to invest in Chinese capital markets.

Reporting by Se Young Lee and Stella Qiu; Editing by Jacqueline Wong

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