Legislation roundup: QFII investors, securities trading and online payment services

The Rules broaden the investment scope of qualified foreign institutional investors and renminbi qualified foreign institutional investors, adding new products such as preference shares, policy financial bonds, asset-backed securities and advance offerings of treasury bonds. The Rules also increase the aggregate shareholding limit for foreign investors in A shares of a listed company from 20% to 30%, while that for a single foreign investor remains unchanged. Additionally, strategic investments in listed companies by foreign investors are not subject to such limits.