China Removes QFII Ceiling for Sovereign Wealth Funds and Central Banks

ChinaThe government of China has removed the ceiling on capital market investments for international sovereign wealth funds and central banks. China is trying to entice long-term foreign ownership in Chinese equities. According to revised regulations by China’s State Administration of Foreign Exchange (SAFE), sovereign wealth funds, central banks, and monetary authorities may exceed the US$ 1 billion limit that applies to other qualified foreign institutional investors (QFII).

As of November 30, 2012, the Hong Kong Monetary Authority, Norges Bank, Government of Singapore Investment Corporation and Temasek Holdings’ Fullerton Fund Management Co. have all reached the $1 billion limit.

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