SAFE News
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- Index number:
- 000014453-2012-00087
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- Dispatch date:
- 2012-03-26
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- Publish organization:
- State Administration of Foreign Exchange
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- Name：
- The State Administration of Foreign Exchange Actively Implements Examination and Approval Procedures for RMB Qualified Foreign Institutional Investors
The State Administration of Foreign Exchange Actively Implements Examination and Approval Procedures for RMB Qualified Foreign Institutional Investors
Recently, in order to actively carry out the work related to the pilot program of domestic securities investments by RMB qualified foreign institutional investors (hereinafter referred to as the “RQFII”), in accordance with the Measures for the Pilot Program of Domestic Securities Investments by Fund Management Companies and Securities Companies as RMB Qualified Foreign Institutional Investors (Decree No. 76 of the China Securities Regulatory Commission, the People’s Bank of China, and the State Administration of Foreign Exchange) and the Circular of the State Administration of Foreign Exchange on Relevant Issues Concerning the Pilot Program of Domestic Securities Investments by Fund Management Companies and Securities Companies as RMB Qualified Foreign Institutional Investors (HuiFa No.50 [2011]), the State Administration of Foreign Exchange (SAFE) convened a meeting on the investment quota of qualified institutional investors in order to review such matters as the allocation of the quota of domestic securities investments by RQFII. The meeting discussed and adopted the basic principles for the allocation of the quota for domestic securities investments by RQFIIs, i.e., approximately equal allocations between fund-based and securities-based RQFIIs, and relative control of the scale of private equity products. This time, a total investment quota of RMB 10.7 billion for the RQFIIs (see the Annex) was approved for 10 RQFIIs that had submitted their complete application materials through the trustee banks.
The SAFE will continue, in a timely manner, accepting applications for investment quotas submitted by qualified RQFIIs, and will examine and approve the applications in accordance with uniform rules and procedures.
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