China Banking Regulatory Commission and State Administration of Foreign Exchange, Tentative Measures for the Administration of the Entrusted Overseas Financial Management Business of Trust Companies

Issued: March 12 2007
Effective: As of date of issuance
Interpreting Authorities: China Banking Regulatory Commission and State Administration of Foreign Exchange

Applicability: For the purposes of these Measures, the term "entrusted overseas financial management business" means the business activity wherein a domestic organization or an individual resident (the Settlor) entrusts funds that it/he/she lawfully owns to a trust company to establish a trust, and the trust company engages in the investment in specified financial products and in asset management overseas in its own name in accordance with the provisions of a trust document. The investment returns and risks are enjoyed and borne by the relevant parties in accordance with laws, regulations and the trust document (Article 2).