The quota allocated to participants in China’s Qualified Foreign Institutional Investor (QFII) program is set to reach US$30 billion by 2014, up from the current US$11 billion, according to Z-Ben Advisors, a Shanghai-based fund management research group. Foreign applicants that rent out their quotas to third parties such as hedge funds are likely to get the cold shoulder in favor of actively managed A-share funds, the Financial Times reported. The QFII program is intended to open up China’s stock market to foreign expertise without allowing unlimited amounts of capital to flow in and out of the country. No investment quotas were allocated between December 2006 and March 2008 as Chinese individuals piled into the stock market. Michael McCormack, executive director of Z-Ben, said the regulators will continue to favor retail funds aimed at retail investors. He believes new participants, especially charities, pension funds and sovereign wealth funds, will be extremely welcome.