Legislation roundup: RQFII, personal insurance and charity donations

September 08, 2016 | BY

Katherine Jo &clp articles &

The PBOC and SAFE have tied RQFIIs' investment limits to their AUM, the CIRC has tightened its grip over personal insurance products and public donation postings have been required to be certified

Capital Markets

People's Bank of China and State Administration of Foreign Exchange, Circular on Issues Relevant to the Administration of Securities Investment in China by Renminbi Qualified Foreign Institutional Investors

The State Administration of Foreign Exchange (SAFE) exercises administration over the investment limit of each RQFII by way of record filing, or examination and approval. By way of record filing, a RQFII may secure an investment limit not exceeding a certain percentage of its assets or of the securities assets under its management. An application for an investment limit exceeding the investment limit shall be subject to the examination and approval of SAFE.

Further reading

Insurance

China Insurance Regulatory Commission, Circular on Strengthening the Oversight of Personal Insurance Products

The China Insurance Regulatory Commission (CIRC) exercises administration over personal insurance products by way of post-event record filing and post-event random inspections. Save for those that expressly require prior examination and approval, all personal insurance products developed and designed by insurance companies shall be subject to record filing with the CIRC within 10 days after the sale of such a product.

Further reading

Charity

Ministry of Civil Affairs, Ministry of Industry and Information Technology, State Administration of Press, Publication, Radio, Film and Television, and Cyberspace Administration of China, Measures for the Administration of Public Donation Solicitation Platform Services

When a radio station, television channel, newspaper, periodical, online service provider or telecommunications operator provides public donation solicitation platform services, it shall examine the charitable organization's registration certificate and public donation solicitation qualification certificate, and may not accept donated property on its behalf.

Further reading

PRC Charity Law

Capital Markets

People's Bank of China and State Administration of Foreign Exchange, Circular on Issues Relevant to the Administration of Securities Investment in China by Renminbi Qualified Foreign Institutional Investors

The State Administration of Foreign Exchange (SAFE) exercises administration over the investment limit of each RQFII by way of record filing, or examination and approval. By way of record filing, a RQFII may secure an investment limit not exceeding a certain percentage of its assets or of the securities assets under its management. An application for an investment limit exceeding the investment limit shall be subject to the examination and approval of SAFE.

Further reading

Insurance

China Insurance Regulatory Commission, Circular on Strengthening the Oversight of Personal Insurance Products

The China Insurance Regulatory Commission (CIRC) exercises administration over personal insurance products by way of post-event record filing and post-event random inspections. Save for those that expressly require prior examination and approval, all personal insurance products developed and designed by insurance companies shall be subject to record filing with the CIRC within 10 days after the sale of such a product.

Further reading

Charity

Ministry of Civil Affairs, Ministry of Industry and Information Technology, State Administration of Press, Publication, Radio, Film and Television, and Cyberspace Administration of China, Measures for the Administration of Public Donation Solicitation Platform Services

When a radio station, television channel, newspaper, periodical, online service provider or telecommunications operator provides public donation solicitation platform services, it shall examine the charitable organization's registration certificate and public donation solicitation qualification certificate, and may not accept donated property on its behalf.

Further reading

PRC Charity Law

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