Capital Markets

CSRC prevents backdoor listing from circumventing regulation.

The appointment or replacement of the legal representative of a fund manager of a public investment fund no longer requires the review of the CSRC.

Bond institutional investors allowed to engage money brokerages.

Foreign investment catalogue revised to allow more foreign shareholding.

Insurance capital allowed to invest in venture capital.

All corporate legal persons are allowed to offer bonds.

Mainland Chinese funds may invest in Hong Kong stocks without QDII qualifications.

Inward investors have expressed concern about proposals that China will levy a 10% capital gains tax on profits earned by foreign investors, with no opportunity to deduct for losses. While some tax advisers welcomed the clarity, some funds may struggle to pay the higher-than-expected tax bills on gains earned over five years between 2009 and 2014

Approval requirement of repatriation of offshore listing proceeds lifted.