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UBS AG plans to apply to invest US$200 million in China's fledgling securities markets. The Swiss bank already has approval to invest US$600 million in Chinese equity and debt.
It is exploring asset management or brokerage ventures to tap some US$1.3 trillion in personal savings.
China launched its Qualified Foreign Institutional Investor or QFII program in 2002. The current regulation restricts each QFII to US$800 million.
(CRI July 12, 2004)
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