This piece of legislation marks a significant development of China's securities markets as it opens up the A share and domestic bond markets to foreign investment for the first time. It lays down the application and qualification standards of QFII.
A circular on the principles, procedures and rules regarding the transfer of state-owned shares and legal person shares in Listed companies to foreign investors issued by the CSRC, MOF and SETC.
China's continuing efforts to create a sound tax collection system include strengthening the tax authorities and adding provisions favourable to taxpayers.