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Two More QFIIs Approved in China

China’s State Administration for Foreign Exchange (SAFE) has approved a further $500 million in mandates under its Qualified Foreign Institutional Investor (QFII) program, which allows qualifying firms to hold tradable Chinese shares for overseas investors.

The latest mandates were given to GE Asset Management and UBS Global Asset Management, who received $200 million each. The extra $100 million was granted as an additional mandate to Fortis Bank.

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