U.S. Prudential seeks China investment licence http://today.reuters.com/news/articleinvesting.aspx?type=fundsNews2&storyID=2006-11-14T081520Z_01_SHA18696_RTRIDST_0_FINANCIAL-CHINA-PRUDENTIAL.XML
Tue Nov 14, 2006
SHANGHAI, Nov 14 (Reuters) - Prudential Financial Inc. (PRU.N: Quote, Profile, Research), the second-largest life insurer in the United States, said on Tuesday it had applied to Chinese securities regulators to invest in the country's securities markets.
"Hopefully, the approval will be awarded by the end of the year or early next year," Glenwyn P. Baptist, chief investment officer at Prudential International Investments, the company's investment arm, told reporters.
The company wants to invest in China's Qualified Foreign Institutional Investor scheme. About 50 foreign firms have won QFII licences, and over 40 have been given a combined quota of $8.245 billion to invest in China's A-share and bond markets.
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