The Chinese government will continue to actively support the expansion of the financial market to the world, the country's foreign exchange regulator’s website said Monday.

File photo: Xinhua

China will step up efforts and meet the expanding investment needs of foreign investors in China's financial market, to attract long-term global capital into China's financial market, the State Administration of Foreign Exchange (SAFE) said.

In April, China's dollar-denominated Qualified Foreign Institutional Investors (QFII) program saw its approved quota reaching $4.2 billion with 9 investors, official data shows.

Meanwhile, the quota in the RMB Qualified Foreign Institutional Investors (RQFII) program came in at 9.7 billion yuan, with five licensed foreign institutional investors.

A total of 13 QFII investment quotas have been approved this year totaling $4.74 billion, exceeding the total approved amount in 2018. A total of 12 RQFII investment quotas totaling $24 billion, exceeding half of the total approved in 2018.

China is determined to expand its opening-up, and to take a series of reform measures. Its stock market and bond market have been included in several important global indexes, which also give foreign capital stronger allocations in China's financial market.

In the first quarter, foreign institutions bought $19.4 billion in stocks in China, and overseas institutions purchased $9.5 billion in Chinese bonds, a significant increase from the same period last year and the fourth quarter of 2018.

The QFII and RQFII programs, introduced in 2003 and 2011, respectively, allow overseas institutional investors to move money into China's capital account for investment.

Cover image: VCG