The sources said that the ongoing negotiations with the Bank of Korea and other Chinese-funded brokerage including the institutions of the CICC, SW, and China Merchants Securities. Expect the Bank of Korea will soon release its results of the negotiations.
Bank of Korea said recently that the total investment of A-share market will invest in China's quota of 300 million U.S. dollars before the end of July. This announcement, shares rallied.
According to the Reuters news agency reported yesterday, the Bank of Korea's foreign exchange reserves management is responsible for Qiu Xing Zhi said recently, the Bank of Korea in January this year, China's qualified foreign institutional investor QFII investment quota of U.S. $ 300 million needs to be exercised within six months and therefore before the end of July this year, the full sum investment amount into the stock market.
In addition to the Bank of Korea, the Korean National Pension Service World Steel Pipe News , NPS and the South Korean sovereign wealth fund Korea Investment Corporation KIC QFII status in China in January this year the two institutions were managing assets of approximately $ 307 billion and $ 43 billion. Korea Investment Corporation and the Korean National Pension recently, it was also expected to release their A-shares in China's QFII business broker.
As of the end of 2011, the management of the Bank of Korea's foreign exchange reserves of more than 300 billion U.S. dollars, more than half of U.S. dollar assets. Autumn Heung-sik, also pointed out that gold as reserve assets of the investment objectives of the importance of rising; despite the debt crisis in Europe, but the status of the euro as a global reserve currency did not reduce.
Territory of Qualified Foreign Institutional Investors Securities Investment Management Interim Measures introduced since 2002, a total of 15 Korean financial institutions to obtain QFII status.
This year, China to speed up the approval of the QFII status and the amount of speed. In early April, the QFII total degree of a substantial increase in the $ 80 billion from the $ 30 billion.
South Korean official agencies have sought to invest in China, highlights the long term bullish on foreign capital for China's economy and stock market. NPS as the world's fourth largest pension fund in a recent statement said that the Chinese stock market has huge long-term growth potential, China's GDP accounted for about 1/10 of the global World Steel Pipe News , and its stock market in the world the proportion is far behind that level.
Autumn Heung-sik, also said that the Bank of Korea also received permission to participate in the Chinese inter-bank bond market, be able to purchase over 300 million U.S. dollars of China's bond, but he did not further disclose the details.