According to the official web site of China Securities Regulatory Commission (CSRC), the examination of certified overseas institutional investor (QFII) of Sequoia Capital China has been accepted.
As early as June 2020, Sequoia Capital reported its software to CSRC. The agency was established in Silicon Valley in 1972 and has invested in lots of well-known firms equivalent to Apple, Google, Cisco and Oracle, and now has localization funds within the United States, China and India. Since its institution in 2005, Sequoia Capital China has invested in additional than 1,000 enterprises with the potential for prime growth, amongst that are greater than 130 enterprises which have been listed and greater than 100 firms which have garnered unicorn standing whereby they’ve topped a $1 billion valuation.
The two-decade outdated QFII program is without doubt one of the most essential programs for China’s monetary market and permits sure licensed worldwide traders to commerce in China’s inventory exchanges. Before the launch of the QFII program, traders from different nations weren’t allowed to purchase or promote shares on Chinese exchanges due to the nation’s tight capital controls. An identical program to QFII, the RMB QFII program, imposes fewer restrictions on abroad traders and makes it simpler for direct funding in China’s home capital markets.
In current years, as an essential channel for world funding within the Chinese market, the QFII program has included extra members. Already this 12 months twelve establishments have submitted QFII functions.
SEE ALSO: Sequoia China Raises $480M for Its Seed Fund III
Under the backdrop of a gentle restoration for financial development, the Chinese market has nice funding potential. CICC predicts that the annual web influx of abroad funds into A-shares in China in 2023 could also be between 300 billion yuan ($43 billion) and 400 billion yuan ($57 billion).
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