The China Securities Regulatory Commission (CSRC) has granted approval for three new foreign financial firms to invest in the domestic stock market under the Qualified Foreign Institutional Investor (QFII) scheme, the Financial Times reported. South Korea’s Hanwha Investment Trust Management Co; Arlington, Virginia-based investment firm Emerging Markets Management and DWS Investment, the mutual fund arm of Deutsche Asset Management International, have all received approval from the CSRC, but must still obtain a currency quota from the State Administration of Foreign Exchange. The new approvals bring the number of foreign investors under the QFII scheme to 79. Analysts said that the CSRC is approving three to four companies every six weeks, but that QFII approvals could be suspended later this year should mainland market continue to rise.
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