China approves nearly 31 bln USD QFII quotas

China's foreign exchange regulator said Monday that it had approved investment quotas of 30.82 billion U.S. dollars to 157 Qualified Foreign Institutional Investors (QFII) as of last Wednesday.

The State Administration of Foreign Exchange (SAFE) approved 9.18 billion U.S. dollars to 72 QFIIs from Jan. 1 to Sept. 19, according to a statement posted on the SAFE's website.

The SAFE has accelerated QFII approvals since the start of 2012 to attract more overseas funds to boost the slowing economy and accelerate the market-based reform of the country's financial system.

The SAFE will continue to improve its QFII investment program to support the reform and development of the country's capital market, according to the statement.