China's foreign exchange authority has awarded investment quotas totaling 350 million U.S. dollars to three qualified foreign institutional investors (QFII), according to the China Securities Journal.

The three QFIIs are JP Morgan Chase Bank, DBS Bank Ltd and JF Asset Management Limited.

The State Administration of Foreign Exchange (SAFE) announced it had given an additional quota of 100 million dollars to JP Morgan Chase Bank, raising its total to 150 million dollars.

The DBS Bank Ltd, Singapore's largest bank and a subsidiary of investment firm Temasek Holdings, was awarded a quota of 100 million dollars.

JF Asset Management Limited was given a quota of 150 million dollars, with at least 100 million dollars to be used as a JF stock fund.

Overseas investors in China are allowed to hold tradable shares only through QFIIs.

A statement from the SAFE said QFIIs had helped the reform and innovation of China's capital markets since the scheme was piloted in December 2002.

SAFE figures show 39 QFIIs have been awarded a total investment quota of 6.32 billion dollars.

Source: Xinhua