The State Administration of Foreign Exchanges (SAFE) approved Hen Seng Bank to increases 50 million US dollars as Qualified Foreign Institutional Investor (QFII) volume.

This is the first approved QFII after China allowed the volume rising from 4 billion to 10 billion US dollars.

China's capital market developed rapidly recently. The introduction of QFII not only increased the capital supply to domestic market, but also help regulate capital market. By the end of August, China already approved 4 billion US dollar worth of QFII investment.