Record number of QFII accounts in March

A record 26 new Qualified Foreign Institutional Investors (QFII) accounts were opened in March, bringing the total number of QFII accounts to more than 400, according to China Securities Depository and Clearing Co Ltd.

Analysts said growth in QFII accounts shows overseas investors' increasing interest in China's stock market.

The reasonable pricing of China's stocks and the relatively low price of some stocks with potential for return are the major appeals to investors, said analysts.

New QFII accounts have been opened in each of the past 15 months, according to CSDC, with record numbers posted every month since January 2013.

In March, the State Administration of Foreign Exchange approved a QFII quota of $910 million, pushing the combined approved QFII quota for the first quarter of 2013 to $3.12 billion.

The number of newly opened accounts in the Shanghai Stock Exchange and the Shenzhen Stock Exchange totaled 34,300 in March, the highest monthly figure in 2013, according to CSDC.

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