China has set a US$4.2 billion Qualified Foreign Institutional Investor quota for nine organizations and a 9.7 billion yuan quota for Renminbi Qualified Foreign Institutional Investor in April, official data shows.

So far this year, Chinese authorities granted a US$4.74 billion yuan QFII quota for 13 organizations, surpassing the level for 2018.

Meanwhile the combined RQFII quota totalled US$24 billion for 12 foreign organizations, equivalent to half of the quota granted under the program in 2018.

The State Administration of Foreign Exchange said in a statement that China’s opening up measures for the domestic financial markets are making it more attractive for foreign investors.

In the first quarter, the net inflow of foreign funds into Chinese stock market was US$19.4 billion, and the inflow for bond market was US$9.5 billion.

The authority said it will continue pushing forward the opening up of Chinese financial markets and to attract long-term funds globally to invest in domestic markets.