Report suggests QFII pilot will become full-fledged program

China will likely expand its qualified foreign institutional investor (QFII) pilot scheme and roll it out as a full-fledged program, the China Securities Journal said. China has so far qualified 21 overseas organizations, 17 of which have been given investment quotas totaling US$2.73 billion by the State Administration of Foreign Exchange (SAFE). Ten institutions await quota approvals currently. The journal said SAFE welcomed fund management companies, as well as pension and insurance organizations, to apply for the program which enables institutions to invest in Chinese securities.