State Administration of Foreign Exchange, Provisions on Foreign Exchange Control in Connection with Securities Investments in China by Qualified Foreign Institutional Investors
国家外汇管理局合格境外机构投资者境内证券投资外汇管理规定
November 02, 2009 | BY
clpstaff &clp articlesTransfer of a QFII's investment limit is no longer allowed.
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Promulgated: September 29 2009
Effective: as of date of promulgation
Main contents: According to the Provisions, the investment limit that a qualified institutional investor (QFII) applies for may not be less than the equivalent of US$50 million each time and, in the aggregate, may not be more than the equivalent of US$1 billion. A QFII may not apply for an increase in its investment limit again for one year after its previous investment limit is approved (Article 7).
The Provisions also prohibit a QFII from transferring or selling its investment limit (Article 23).
Related legislation: PRC Regulations for the Control of Foreign Exchange (2nd Revision) , Aug 5