The Provisions expand the scope of RQFIIs to also include Hong Kong subsidiaries of commercial banks and insurance companies, as well as financial institutions incorporated and with a principal place of business in Hong Kong. The requirement that 80% of the proceeds be invested in fixed-return securities is also lifted.
Private equity funds established in the form of a company or partnership to engage in securities investments managed by a fund manager or general partnership are now governed by the Securities Investment Fund Law.