People's Bank of China and State Administration of Foreign Exchange, Circular on Issues Relevant to Further Facilitating Investment in the Interbank Bond Market by Foreign Institutional Investors (Draft for Comments)
中国人民银行、国家外汇管理局关于进一步便利境外机构投资者投资银行间债券市场有关问题的通知 (征求意见稿)
May 30, 2019 | BY
Susan MokForeign investors' bond investments are facilitated
Issued: May 10, 2019
Main contents: A foreign institutional investor may, as required for its own investment management, carry out bi-directional non-trade transfer of the interbank bond market bonds held in its qualified foreign institutional investor (QFII/RQFII) bond account and interbank bond market direct investment (Direct Investment) bond account (Article 1).
The funds in a foreign investor's QFII/RQFII custodial account and Direct Investment fund account may be directly transferred (bi-directionally) in China (Article 3).
Where a foreign institutional investor invests in the domestic interbank bond market both through the qualified foreign institutional investor (QFII/RQFII) and Direct Investment channels, it is required to carry out record filing with the Shanghai head office of the People's Bank of China only one time, either through its QFII/RQFII domestic custodian or Direct Investment settlement agent (Article 5).
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