Capital Markets

Transfer of a QFII's investment limit is no longer allowed.

Proceeds in excess of companies listed on China Gem may not be used for securities investment.

Investment limit of a QDII may be taken back by Safe if not used effectively.

Ratio of bond investment of insurance companies increased.

New rules allow greater investments in China's capital markets and impose a shorter lock-up period, but failure to comply could lead to the loss of QFII status

The Provisions raise the maximum investment limit of a QFII to US$1 billion but also prohibit a QFII from transferring such limit.

Pricing for exchangeable bonds made clear.

Sasac restricts state-owned shareholders from reducing shareholdings.

More scrutiny of banks' M&A activity.