Circular of State Administration of Foreign Exchange on the Issues Concerning the Pilot Domestic Securities Investment by RMB Qualified Foreign Institutional Investors of Fund Management Companies and Securities Companies
Circular of State Administration of Foreign Exchange on the Issues Concerning the Pilot Domestic Securities Investment by RMB Qualified Foreign Institutional Investors of Fund Management Companies and Securities Companies
Circular of State Administration of Foreign Exchange on the Issues Concerning the Pilot Domestic Securities Investment by RMB Qualified Foreign Institutional Investors of Fund Management Companies and Securities Companies
Hui Fa [2011] No. 50
December 20, 2011
State Administration of Foreign Exchange Sub-bureaus of Provinces, autonomous Regions and Municipalities Under Direct Central Government: Foreign Exchange Administrative Department, and Sub-bureaus of Shenzhen, Dalian, Qingdao, Xiamen and Ningbo Municipalities:
In order to regulate the relevant pilot domestic securities investment business conducted by RMB qualified foreign institutional investors (hereinafter the "RMB QFII") of fund management companies and securities companies, in accordance with the " 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 China Securities Regulatory Commission and State Administration of Foreign Exchange No. 76, hereinafter the "Pilot Measures") and the relevant provisions on foreign exchange administration, the Circular on the related issues are notified hereby as follows:
I.State Administration of Foreign Exchange and its sub-bureaus and Foreign Exchange Administrative Department (hereinafter the "SAFE") shall exercise according to law the monitoring and administration to the investment quota and inbound and outbound fund remittance related to RMB QFII domestic securities investments.
II.The RMB QFII that has obtained the permit for domestic securities investment business with the approval of China Securities Regulatory Commission (hereinafter the "CSRC") shall entrust its domestic trustee (hereinafter the "Trustee") to complete on its behalf the relevant formalities required by the Circular.
III.
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