Investment Updates News
- CICC wins $5b investment quota
Date: 19-Dec-2007 Sources: (Shenzhen Daily)
CHINA International Capital Corp. (CICC), a broker co-owned by Morgan Stanley, had won a license allowing it to invest US$5 billion in client money abroad, a domestic newspaper reported Monday.
Under the QDII scheme, brokers and mutual funds can invest customers' funds in stocks and a range of fixed-income products in 33 countries that have agreements with China's securities regulator. The move would bring the total number of such quotas to four brokers, including CICC, CITIC Securities, Guotai Junan Securities, and China Merchants Securities, to US$20 billion.
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