UBS AG plans to apply to invest US$200 million in China's fledgling securities markets. The Swiss bank already has approval to invest US$600 million in Chinese equity and debt.

It is exploring asset management or brokerage ventures to tap some US$1.3 trillion in personal savings.

China launched its Qualified Foreign Institutional Investor or QFII program in 2002. The current regulation restricts each QFII to US$800 million. 

(CRI July 12, 2004)