TAIPEI -(Dow Jones)- Taiwan's China Life Insurance Co. (2823.TW) was approved Monday by China's Securities Regulatory Commission as a qualified foreign institutional investor, the company said in a statement.

After obtaining approval a QFII must wait typically several months for the State Administration of Foreign Exchange to approve an investment quota before it can start investing in securities in China.

The QFII program, launched in 2003, is the only method through which foreign investors can trade China's domestically listed yuan-denominated A-shares.