Circular of the State Administration of Foreign Exchange on Issues Concerning the Pilot Domestic Securities Investment by RMB Qualified Foreign Institutional Investors
Circular of the State Administration of Foreign Exchange on Issues Concerning the Pilot Domestic Securities Investment by RMB Qualified Foreign Institutional Investors
Circular of the State Administration of Foreign Exchange on Issues Concerning the Pilot Domestic Securities Investment by RMB Qualified Foreign Institutional Investors
Hui Fa [2013] No.9
March 11, 2013
The foreign exchange administration departments and the offices of the State Administration of Foreign Exchange (hereinafter referred to as the "SAFE") of all provinces, autonomous regions and municipalities directly under the Central Government, the SAFE branches of Shenzhen, Dalian, Qingdao, Xiamen and Ningbo city, the qualified foreign institutional investors' custodian banks in China:
In order to standardize the pilot business of the securities investment of the RMB qualified foreign institutional investors (hereinafter referred to as the "RQFII"), pursuant to the Administrative Regulations of the People's Republic of China on Foreign Exchange (Order of the State Council No. 532, hereinafter referred to as the "Administrative Regulations on Foreign Exchange"), the Measures for the Pilot Program of Domestic Securities Investment by RMB Qualified Foreign Institutional Investors (Order of the China Securities Regulatory Commission, the People's Bank of China and the State Administration of Foreign Exchange No. 90, hereinafter referred to as the "Pilot Measures") and the relevant foreign exchange administrative regulations, relevant issues are hereby notified as follows:
I. SAFE and its branches, foreign exchange administration departments (hereinafter referred to as the "foreign exchange bureaus") shall implement monitoring and administration in accordance with the law of the investment quota relating to the domestic securities investment of RQFII (hereinafter referred to as the "investment quota") and the capital remitted into or out of China.
II. RQFII who, with the approval of the China Securities Regulatory Commission (hereinafter referred to as the "CSRC"), has obtained the license of domestic securities investment business shall authorize its domestic custodian (hereinafter referred to as the "custodian") to handle on its behalf the relevant formalities required by the Circular.
III.
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