CHINA: Implementation of Examination and Approval Procedures for RMB Qualified China Foreign Institutional Investors

Friday April 13 2012

Recently, in order to actively carry out the work related to the pilot program of domestic securities investments by RMB qualified China foreign institutional investors (RQFII), the State Administration of Foreign Exchange (SAFE) convened a meeting on the investment quota of qualified China institutional investors in order to review such matters as the allocation of the quota of domestic securities investments by RQFII. The meeting discussed and adopted the basic principles for the allocation of the quota for domestic securities investments by RQFIIs, i.e., approximately equal allocations between fund-based and securities-based RQFIIs, and relative control of the scale of private equity products.

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