As of June 29, a total RQFII quota of RMB 508bn was approved for issuing to 168 institutions, according to the latest data from the State Administration of Foreign Exchange.
The Renminbi Qualified Foreign Institutional Investor scheme allows offshore RMB investments in the mainland.
Singapore-based Pimco Asia was granted RMB 1.8bn of new RQFII quota, apart from the $100m QFII quota it received in 2014. A spokeswoman declined to comment on how Pimco plans to use the quota.
The rest of the new RQFII quota went to Axa Investment Managers Paris with RMB 3.4bn, and GF Financial Markets (UK), a subsidiary under Guangzhou-based GF Group, which received RMB 1bn.
Axa IM also has $100m of QFII quota. The QFII programme allows offshore US dollar investments in China.
The overall QFII quota was expanded month-on-month by only $82m in June to $81.2bn with no new recipients.
SAFE stopped issuing quota for another investment channel, the Qualified Domestic Institutional Investor programme, in March 2015. QDII permits onshore financial institutions to invest overseas.
