HKMA sets first in breaking QFII quota record

  Hong Kong’s central bank became the first overseas institution to receive over $1 billion in total QFII quota from China's State Administration of Foreign Exchange (Safe). The mainland's foreign exchange regulator removed the $1 billion cap on QFII holders last December, yet it took eight months for a foreign institution to exceed that amount. The Hong Kong Monetary Authority (HKMA) was granted $500 million in qualified foreign institutional investor (QFII) quota in August’s…