China Securities Regulatory Commission, People's Bank of China and State Administration of Foreign Exchange, Measures for Pilot Projects for Securities Investment in China by the Renminbi Qualified Foreign Institutional Investors of Fund Management Companies and Securities Companies

中国证券监督管理委员会、中国人民银行、国家外汇管理局基金管理公司、证券公司人民币合格境外机构投资者境内证券投资试点办法

March 29, 2012 | BY

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Renminbi qualified foreign institutional investors allowed to invest renminbi proceeds raised in Hong Kong in securities in China.

Clp Reference: 3700/11.12.16 Promulgated: 2011-12-16 Effective: 2011-12-16

Promulgated: December 16 2011
Effective: as of date of promulgation


Main contents: When a Hong Kong subsidiary of a Chinese fund management company or securities company applies to take part in a pilot project for securities investment in China with renminbi proceeds raised in Hong Kong, it shall satisfy the following conditions:


(1) having secured asset management business qualifications from the Hong Kong securities regulator, having commenced its asset management business, having stable finances and having a good credit rating;


(2) its corporate governance and internal controls being effective and its professional personnel satisfying relevant Hong Kong requirements in respect of professional qualifications;


(3) the applicant and its domestic parent operating in a compliant manner and not having been subjected to major penalties by their respective local regulators;


(4) the applicant's domestic parent having securities asset management qualifications; and


(5) other conditions as specified by the CSRC based on prudential regulatory principles (Article 6).

clp reference:3700/11.12.16(1)promulgated:2011-12-16effective:2011-12-16

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