State Administration of Foreign Exchange, Circular on Foreign Exchange Control Issues Relevant to the Investment on the Interbank Bond Market by Foreign Institutional Investors

Applicability: For the purposes of this Circular, the term “foreign institutional investor” means various types of financial institutions satisfying the requirements of the People's Bank of China, Announcement [2016] No.3 and lawfully incorporated outside the People's Republic of China, such as a commercial bank, insurance company, securities company, fund management company or other asset management institution, the investment products of the aforementioned financial institutions lawfully and compliantly offered to clients, as well as other medium- and long-term institutional investors recognized by the People's Bank of China, such as retirement funds, charitable foundations and endowment funds (Article 1).