Investment Updates News
- Credit Suisse given US$300m QDII quota
Date: 5-Feb-2007 Sources: (Shenzhen Daily)
THE government has granted the Shanghai branch of Credit Suisse a US$300 million quota under a program permitting selected financial institutions to invest overseas on behalf of Chinese residents.
The State Administration of Foreign Exchange, the currency regulator, carried the announcement on its Web site Friday. China has now issued quotas totaling US$14.2 billion to 17 domestic and foreign firms under the Qualified Domestic Institutional Investor (QDII) program, launched last year to encourage capital outflows and so ease upward pressure on the yuan.
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