Pilot Measures for Securities Investment by Fund Management Companies and Securities Companies within the Territory of China as Qualified RMB Foreign Institutional Investors
Pilot Measures for Securities Investment by Fund Management Companies and Securities Companies within the Territory of China as Qualified RMB Foreign Institutional Investors
Pilot Measures for Securities Investment by Fund Management Companies and Securities Companies within the Territory of China as Qualified RMB Foreign Institutional Investors
Order of the China Securities Regulatory Commission, the People's Bank of China and the State Administration of Foreign Exchange No. 76
December 16, 2011
The Pilot Measures for Securities Investment by Fund Management Companies and Securities Companies within the Territory of China as Qualified RMB Foreign Institutional Investors, deliberated and adopted by the China Securities Regulatory Commission at its 282nd Chairman Meeting on October 25, 2010, by the People's Bank of China at its 14th Governor Meeting on December 5, 2011 and by the State Administration of Foreign Exchange at its 29th Director Meeting on November 16, 2010, are hereby promulgated and shall become effective as of the date of promulgation .
Chairman of the China Securities Regulatory Commission, Guo Shuqing
Governor of the People's Bank of China, Zhou Xiaochuan
Director of the State Administration of Foreign Exchange, Yi Gang
Pilot Measures for Securities Investment by Fund Management Companies and Securities Companies within the Territory of China as Qualified RMB Foreign Institutional Investors
Article 1 These Measures are formulated in accordance with the relevant laws and administrative regulations in order to regulate the pilot program wherein fund management companies and securities companies carry out securities investment activities within the territory of China as foreign institutional investors.
Article 2 These Measures shall be applicable to investments by Hong Kong subsidiaries of domestic fund management companies and securities companies (hereinafter, "Hong Kong subsidiaries") into the domestic securities market with the RMB funds raised from Hong Kong.
Article 3 Investments by Hong Kong subsidiaries into the domestic securities market shall have been approved by the China Securities Regulatory Commission (hereinafter, "CSRC") and subject to the investment quota approved by the State Administration of Foreign Exchange (hereinafter, "SAFE").
Article 4 The CSRC, the People's Bank of China (hereinafter, the "PBOC") and the SAFE shall administer, respectively, supervision and administration over domestic securities investments, administration over opening of RMB bank accounts within China, and administration over investment quota, of Hong Kong subsidiaries.
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