On 14 January 2019, China's foreign exchange regulator, the State Administration of Foreign Exchange ("SAFE"), announced that the total quota for the Qualified Foreign Institutional Investors ("QFII") scheme will be increased from USD 150 billion to USD 300 billion to meet investment demand from the overseas investor community. As of the end of 2018, a total amount of approximately USD 101 billion had been granted to 287 QFIIs.