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China doubled the quota of its Qualified Foreign Institutional Investor program to $300 billion, the State Administration of Foreign Exchange said in a statement on Monday.
The move comes amid efforts to open up the country’s financial system, and encourage overseas participation in a market that last year saw record corporate defaults and the world’s worst performance by a major global stock market.
SAFE said in the statement that the doubling was “to meet the needs of foreign investors to expand investment in China’s capital market.”
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