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China doubles trading quota for foreign investors on 2 domestic exchanges

China has doubled the combined quota for foreign institutional investors in trading stocks, bonds and other financial instruments listed on the country's two stock exchanges.

The State Administration of Foreign Exchange said Jan. 14 that it raised the combined quota for Qualified Foreign Institutional Investor, or QFII, program to US$300 billion from US$150 billion, effectively immediately.

The move is aimed at meeting the increased demand from investors outside the country, the release added.

The QFII program, introduced since 2002, gives foreign institutional investors a right to trade on stock exchanges in Shanghai and Shenzhen.

China has been relaxing rules on the QFII program in recent years as it gradually opens the capital market to foreign participation, such as removing the remittance limit for the investors in June 2018.