Deutsche Bank, a leading international investment bank, has been granted the license of Qualified Foreign Investment Institution (QFII) by China's securities authority.
As the sixth QFII in China, Deutsche Bank is allowed to engage in the securities business on the A-share market, China's domesticsecurities market, the China Securities Regulatory Commission (CSRC) announced Sunday.
The CSRC had previously given the green light to five international investment institutions, which are UBS Warburg, Normura Securities, Morgan Stanley & Co, International Ltd, Goldman Sachs & Co., and Citigroup Global Markets Limited.
A total investment line of 775 million US dollars has been granted to the five QFIIs, according to the information from China's State Administration of Foreign Exchange.
(Xinhua News Agency August 4, 2003)
