Select foreign investors are scurrying to apply for China's Class-A share market, which analysts say will bring overseas capitalsintosthe country's much-isolated equities market.

　　UBS Warburg said it will apply to the China Securities Regulatory Commission to buysintosyuan-denominated Class-A share trading on the Shanghai and Shenzhen stock exchanges next week.

　　"We will possibly submit our application to the securities regulator next week. We completed our draft application last year," said Aubrey Ho, UBS Warburg's Asia head of communications and marketing.

　　"We have nearly clinched our custodian bank through which we can submit our application," she said, declining to specify the bank.

　　China introduced the Qualified Foreign Institutional Investor program in November last year, a move which allowed foreigners to get access to the country's US billion A-share market.

　　Other global investment banks said they were also on track to extend their footprint in the Chinese stockmarkets.

　　Mei Zhang, Goldman Sachs' executive director of corporate communications, was quoted by International Finance News as saying that it would apply to the securities regulatory body within the week.

　　Deutsche Bank and Japan's Nomura Securities are others which are also applying this week.

　　Media reported that Deutshe Banks' investment quota was standing between US million and US million.

　　The funds could be used to buy power suppliers, property companies and infrastructure stock.

　　Under the specific rules, the China Securities Regulatory Commission and the State Administration of Foreign Exchange will decide whether to grant the QFII license within 45 days.

　　Last week, the securities regulator confirmed that QFIIs are also permitted to buy the country's 73 securities investment funds.

　　The funds have more than 100 billion yuan (US billion) in combined assets, including 19 open-end funds, and shares that are sold in initial public offerings or rights issues. It is broader than the previous investment scope of Class-A shares and bonds.

　　To date, the government has approved eight banks, including three overseas banks, to provide custodian service to QFIIs.