BEIJING — China's forex regulator on Sept 10 announced it will abolish the investment quota restrictions for the Qualified Foreign Institutional Investors (QFII) and Renminbi Qualified Foreign Institutional Investors (RQFII) to boost financial reforms and opening-up.

The two programs have been important in the opening-up of China's financial market, according to the State Administration of Foreign Exchange (SAFE).

Since the implementation of the QFII system in 2002 and RQFII system in 2011, more than 400 institutional investors from 31 countries and regions have invested in China's financial market in this way, according to the SAFE.

In the future, qualified foreign institutional investors under the two programs only need to register to remit funds independently to carry out securities investment.

Foreign investors will find it more convenient to participate in China's financial market, and its bond market and stock market will be better accepted by the global market, according to the SAFE.