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China QFII Rules Revised - Significant Developments for Foreign Fund Managers
October 31, 2006 | BY
clpstaff &clp articlesThe newly revised QFII rules aim to lower the entry threshold and allow more QFIIs into China's capital market. What investment restrictions have been lifted? Are there significant improvements to the original rules?
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By Taylor Hui and Vivien Teu, Deacons, Hong Kong
On August 24 2006, the China Securities Regulatory Commission (CSRC), People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) jointly issued the new Measures for the Administration of Securities Investments in China by Qualified Foreign Institutional Investors (New QFII Rules) that govern the regime allowing foreign institutions approved by the CSRC as qualified foreign institutional investors (QFIIs) to invest in China A-shares and other renminbi-denominated securities in the People's Republic of China (PRC), subject to the grant of investment quotas by SAFE.