Tuesday, July 20, 2004

WSJ.com - China Grants Bill & Melinda Gates Foundation QFII Status

WSJ.com - China Grants Bill & Melinda Gates Foundation QFII Status "China's securities regulator Tuesday said it has approved the Bill & Melinda Gates Foundation as a qualified foreign institutional investor.
The foundation is the first non-financial institution to be granted QFII status in China. Previously, only investment banks and asset management companies were approved as QFIIs.
The China Securities Regulatory Commission provided no other details in a statement posted on its Web site.
The Bill & Melinda Gates Foundation, co-founded by the chairman of software giant Microsoft Corp. (MSFT) and his wife, had $26.8 billion in assets at the end of last year and distributed grants totaling $1.18 billion in 2003, mostly for health and education causes."
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