China is expected to approve quotas of nearly 10 bln usd for the Qualified Domestic Institutional Investor (QDII) scheme by the end of the year, Forbes reported, citing the China Securities Journal reported. The State Administration of Foreign Exchange (SAFE) has approved a combined 4.8 billion US dollars in QDII quotas, with two billion for Industrial and Commercial Bank of China (ICBC), 2.5 billion for Bank of China, and 300 million for Bank of East Asia's mainland branch, wrote Forbes. ICBC said yesterday that it will launch the first QDII product focusing on overseas money markets.   Following ICBC, CITIC Securities Co Ltd and China Merchants Securities Co. Ltd have also submitted similar applications for QDII schemes to the regulator.