Legislation roundup: QFIIs, online publishing and industry financing
February 18, 2016 | BY
Katherine JoSAFE has relaxed investment restrictions for QFIIs, control over online publishing has been tightened and the PBOC has encouraged offshore financing in domestic enterprises
Capital markets
State Administration of Foreign Exchange, Provisions on Foreign Exchange Control in Connection with Securities Investments in China by Qualified Foreign Institutional Investors
The revised Provisions relax the upper limit on the amount that a single QFII can invest. A single QFII will no longer be subject to a uniform upper limit on the amount that it can invest, rather a certain percentage of its assets or the assets under its management will serve as the basis for securing the amount that they can invest (basic amount).
See the digest for more details.
Further reading
TMT
State Administration of Press, Publication, Radio, Film and Television and Ministry of Industry and Information Technology, Provisions for the Administration of Online Publication Services
The Provisions require the securing of an Online Publication Service Permit to engage in the provision of online publication services, and subject online publication service entities to an annual verification system. An online publication service entity is required to record the contents of a work that it publishes as well as the time thereof and the URL or domain name.
Further reading
Financing
People's Bank of China and Seven Other Ministries and Commissions, Several Opinions on Financially Supporting the Steady Growth, Structural Adjustment and Increased Efficiency of Industry
The Opinions simplify the approval procedure for domestic enterprises seeking foreign financing and encourage domestic industrial enterprises to utilize offshore markets to issue stock, bond and asset securitization products. They also support industrial enterprises in using the renminbi for pricing and settlement in foreign economic activities.
Further reading
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