CHINA will further improve management and tax policies for the Qualified Foreign Institutional Investor (QFII) program to attract more foreign investment into the country’s capital markets, the securities regulator said Friday.

    The China Securities Regulatory Commission (CSRC) also said at a regular briefing that there was still strong demand from institutions to join the Renminbi Qualified Foreign Institutional Investor program, dismissing talk of decreased applications for quotas.

    “We will work together with related agencies to enhance coordination to improve policies on foreign exchange management and income tax,” Zhang Xiaojun, spokesman of the CSRC, told reporters.

    “Against the backdrop of China’s increasing economic strength and a further opening-up of its capital markets, there is still very big demand from foreign investors,” Zhang said.

    As of the end of February, China had issued total quotas of US$52.3 billion under the QFII program and 180.4 billion yuan (US$29 billion) under the RQFII program. (SD-Agencies)