People's Bank of China and State Administration of Foreign Exchange, Provisions for the Administration of the Funds Invested by Foreign Institutional Investors in Domestic Securities and Futures

中国人民银行、国家外汇管理局境外机构投资者境内证券期货投资资金管理规定

August 16, 2024 | BY

Susan Mok

A QFII may select at its own discretion the currency it remits inwards to invest in domestic securities or futures

Issued: July 26, 2024

Effective: August 26, 2024

Main contents: A qualified foreign1 institutional investor or renminbi qualified foreign institutional investor (QFII/RQFII) may select at its own discretion the currency it remits inwards to invest in domestic2 securities or futures. Where a QFII/RQFII remits a foreign currency for its investments, it shall, after the conversion thereof, transfer the proceeds to its dedicated renminbi deposit account paired with its dedicated foreign currency account and the principal of, and returns on, its investments may be remitted out either in a foreign currency or renminbi. Where a QFII/RQFII remits renminbi inward for its investments, it shall remit the same directly into its dedicated renminbi deposit account and the principal of, and returns on, its investments shall be remitted out in renminbi (Article 10).

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