Legislation roundup: securities dealers, consumption tax regulations and insurance assets
August 03, 2012 | BY
clpstaff &clp articlesThe China Securities and Regulatory Commission issued Measures for securities investments by QFIIs, lowering the qualification thresholds. China Insurance Regulatory Commission also released Measures forcing insurance companies to set up separate accounts for its assets.
Capital Markets
China Securities Regulatory Commission, Provisions on Issues Relevant to the Implementation of the 〈Measures for the Administration of Securities Investments in China by Qualified Foreign Institutional Investors〉
QFIIs can now use three securities dealers at the Shenzhen and Shanghai stock exchanges to trade securities. The limit on the total holdings of A shares of a single listed company by all QFIIs is now increased from 20% to 30% of the listed company's total shares. The qualification thresholds for QFIIs have also been relaxed. Commercial banks are now required to have managed securities assets of not less than US$5 billion instead of US$10 billion in the previous financial year.
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