China's foreign exchange regulator has increased the amount Kuwait's sovereign wealth fund can invest directly in the Chinese securities markets to US$1 billion (S$1.2 billion).
The regulator awarded Kuwait an additional US$700 million quota on top of US$300 million awarded in March last year, state news agency Kuna said. Kuwait said last year it was seeking a maximum quota of US$1 billion.
The quota allows the fund to buy yuan-denominated stocks and bonds. Only five other foreign investors in China have quotas as large as US$1 billion, according to Reuters records. They are Qatar Holding, the Hong Kong Monetary Authority, Norway's Norges Bank, the Government of Singapore Investment Corporation, and Singapore-based investment firm Temasek Fullerton.
Kuwait's China investment quota boosted to $1.2b
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