Friday June 10 2016
News Source: Global Exchanges
Focus: Fixed Income
Type: General
Country: China
Link: http://shanghai.pbc.gov.cn/fzhshanghai/113571/3070393/index.html
The People`s Bank of China (PBoC) on 24 February 2016 opened up the China Interbank Bond Market (CIBM) to a wider group of foreign institutional investors. Following this announcement, on 27 May 2016 PBoC Shanghai Head Office issued the long-awaited implementing rules relating to the previous announcement to be effected immediately. The rules on foreign exchange, fund remittance and repatriation relating to access to the CIBM were also issued by the State Administration of Foreign Exchange (SAFE) on the same day.
Both central PBoC and PBoC Shanghai Head Office issued FAQs to clarify certain key issues. The following key aspects have been clarified:
- Eligibility assessment;
- Who to file;
- What needs to be filed;
- Investing as QFII/RQFII;
- Available trading methods; and
- Fund remittance and repatriation.
Click on the link above for further details