The Provisions expand the scope of RQFIIs to also include Hong Kong subsidiaries of commercial banks and insurance companies, as well as financial institutions incorporated and with a principal place of business in Hong Kong. The requirement that 80% of the proceeds be invested in fixed-return securities is also lifted.
Private equity funds established in the form of a company or partnership to engage in securities investments managed by a fund manager or general partnership are now governed by the Securities Investment Fund Law.
If the public interest is involved, foreign-related cases concerning labour protection, food safety, environmental protection, forex control, anti-monopoly and anti-dumping may be governed by PRC mandatory provisions.
The total funds (investment principal and returns) that a QFII may outwardly remit each month may not exceed 20% of its total domestic assets as at the end of the previous year.
The rate at which expenditures and expenses that arise from the handling of cases are deducted from the shared revenue of lawyers shall be revised from the current rate of up to 30% of the shared revenue received by a lawyer for the month in question to up to 35%.