Wednesday, June 23, 2010

More China funds heading towards Malaysia

KUALA LUMPUR: China has recognised Malaysia as an approved investment destination under China's Qualified Domestic Institutional Investor (QDII) scheme administered by the China Banking Regulatory Commission (CBRC).'''' ''

In a statement issued by the Securities Commission on Wednesday, June 23, it said the recognition marks a major step forward for the Malaysian capital market.

"It will facilitate the flow of Chinese funds into Malaysia and open up business opportunities for the Malaysian capital market intermediaries," it said.

Securities Commission chairman Tan Sri Zarinah Anwar and CBRC chairman Liu Mingkang signed the Letters of Exchange in Beijing on Wednesday to formalise the recognition.

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