Qualified Foreign Institutional Investor (QFII) is a program that allows specified licensed international investors to participate in mainland China's stock exchanges. The Qualified Foreign Institutional Investor program was introduced by the People's Republic of China in 2002 to provide foreign institutional investors with the right to trade on stock exchanges in Shanghai and Shenzhen. Before the launch of the QFII program, investors from other nations were not allowed to buy or sell stocks on Chinese exchanges due to the country's tight capital controls." Suppose you were the investment manager of one of the licensed international financial institutions that were allowed to participate in the GFII in 2002. What investment strategy would you come up with regarding investing in the stock exchanges in Shang- hai and Shenzhen? That is, what kind of stocks traded in the stock exchanges in Shanghai and Shenzhen would you choose to purchase? Also discuss if the Shang- hai and Shenzhen stock exchange markets were efficient, what would you expect the stock prices to change and how the price changes would affect the profitability of your investment strategy. (There is no definite answer to this question, but do apply the insights from the CAPM to guide your portfolio selection consideration. You are not required to use actual data to do any calculation. Restrict your discussion to no more than 400 words.)