China’s State Administration of Foreign Exchange just handed 78 financial institutions the keys to $5.3 billion in fresh overseas investment capacity. It’s the biggest single expansion of the Qualified Domestic Institutional Investor program since 2021, and it tells you a lot about where Beijing wants its capital to go.
The new quotas, allocated on April 1, push the total outstanding QDII quota to approximately $176 billion.
Where the money is going
The $5.3 billion allocation breaks down along predictable institutional lines. Securities and fund firms received the lion’s share at $2.99 billion. Insurers picked up $1.32 billion. Banks got $990 million.
If you’re keeping score, that means securities firms captured roughly 56% of the new quota. Insurance companies took about 25%. Banks rounded out the rest.
