Chinese regulators have accelerated the pace of approvals for foreign institutions to invest in mainland markets, granting nearly US$1 billion in quotas under the Qualified Foreign Institutional Investor (QFII) program since October, Reuters reported. The approvals are a reversal on a six-month quota freeze, and the fast approvals may be to counteract the net capital outflows recorded in October and November. “Typically when the yuan faces pressure to appreciate, regulators slow or suspend quota approvals,” said Howhow Zhang, a Shanghai-based consultant with Z-Ben Advisors. “I think now, because there is a capital outflow, approvals are being accelerated.” Regulators granted US$200 million in quotas in October, US$250 million in November and US$500 million in December. Quotas have been the lowest this year since 2007, mostly due to the freeze.