UBS to invest more in China

UBS announced plans to invest US$200 million in asset management or brokerage companies in China. The firm has already invested US$600 million in equity and debt through China's Qualified Foreign Institutional Investor (QFII) scheme. Under current regulations, foreign companies are allowed to invest a maximum of US$800 million through the QFII program, a limit which analysts said regulators have not raised due to recent fears of currency speculation. UBS officials said that the firm is considering forming corporate finance or investment banking joint ventures in China.