SAFE CUTS QFII INVESTMENT QUOTA OF ING BANK NV
AsiaInfo Services, February, 2004
AsiaInfo Services 02-16-2004 SAFE Cuts QFII Investment Quota of ING Bank NV BEIJING, Feb 16, 2004 (SinoCast via COMTEX) -- The State Administration of Foreign Exchange (SAFE) announced on February 12 that it would reduce the QFII investment quota of the ING Bank NV to USD 50 million. The SAFE said that the bank actually remitted USD 50 million before the term was mature, only a half of its approved investment quota, or USD 100 million. The SAFE approved the QFII investment quota of USD 100 million of ING Bank NV in October 2003 and approved it to open a renminbi special account in the Standard Chartered Shanghai Branch. The SAFE also announced that the QFII investment quota of USD 50 million for Nikko Asset Management Co., Ltd.. From China News, Page, Friday,...
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