BEIJING - Quotas of $81.1 billion had been awarded under the Qualified Foreign Institutional Investors (QFII) program by the end of May, the State Administration of Foreign Exchange (SAFE) announced on Tuesday.
It was a slight increase from $80.1 billion recorded at the end of April.
As of the end of May, the outstanding quota under the renminbi-denominated Qualified Foreign Institutional Investors (RQFII) program totalled 502 billion yuan ($77.2 billion).
The government introduced the QFII and RQFII programs in 2003 and 2011 respectively. They give foreign investors the right to move money into the capital account to encourage controllable flows.
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