The China Securities Regulatory Commission (CSRC) approved two more foreign firms to participate in the Qualified Foreign Institutional Investor (QFII) scheme, according to Chinese media.
Shanghai Securities News reported that Standard Chartered Bank and Nikko Asset Management Co were granted permission by the CSRC to invest in yuan-denominated local shares, bonds and mutual funds under the QFII plan. The approval of Standard Chartered and Nikko Asset Management bring the total number of QFII approvals to 12 since December 2002.
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