Singapore investment firm Temasek Holdings on Thursday said it had applied for an increase in its quota for publicly traded securities in China.

Under China's Qualified Foreign Institutional Investors (QFII) program, only approved institutional investors can buy or sell yuan-denominated securities.

Temasek said "as an investor who invests for long term returns", it "remains confident and optimistic in China's long-term growth".

Reports say Temasek is seeking to increase its quota by US$700 million (S$896 million), according to Channel NewsAsia.

This article was first published in The New Paper.