State Administration of Foreign Exchange, Provisions on Foreign Exchange Control in Connection with Securities Investments in China by Qualified Foreign Institutional Investors
国家外汇管理局合格境外机构投资者境内证券投资外汇管理规定
November 02, 2009 | BY
clpstaff &clp articles &Transfer of a QFII's investment limit is no longer allowed.
Promulgated: September 29 2009
Effective: as of date of promulgation
Main contents: According to the Provisions, the investment limit that a qualified institutional investor (QFII) applies for may not be less than the equivalent of US$50 million each time and, in the aggregate, may not be more than the equivalent of US$1 billion. A QFII may not apply for an increase in its investment limit again for one year after its previous investment limit is approved (Article 7).
The Provisions also prohibit a QFII from transferring or selling its investment limit (Article 23).
Related legislation: PRC Regulations for the Control of Foreign Exchange (2nd Revision) , Aug 5 2008, CLP 2008 No.8 p.77; and Measures for the Administration of Securities Investments in China by Qualified Foreign Institutional Investors , Aug 24 2006, CLP 2006 No.9 p.28
Repealed legislation: Provisions on Foreign Exchange Control in Connection with Securities Investments in China by Qualified Foreign Institutional Investors (Revised); and Circular on Operational Issues Relevant to Foreign Exchange Control in Respect of QFIIs clp reference:3820/09.09.29prc reference:外汇局公告 〔2009〕 1号promulgated:2009-09-29effective:2009-09-29
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