CSRC, PBC and SAFE Released the New QFII Rules

Measures for the Administration of Domestic Securities and Futures Investment by Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors was officially released by the CSRC, PBC and SAFE today.

Major revisions to previous QFII and RQFII rules are as follows:
· Relaxing qualification requirements and facilitating investment and operations of QFIIs and RQFIIs.
· The previously separate regimes for QFII and RQFII qualifications and rules are integrated
· Qualification requirements are relaxed
· Application documents are streamlined
· Review cycle is cut short
· A simplified reviewing procedure is applied
· The restriction on the number of intermediaries servicing a QFII or RQFII is removed
· Supervision over the reporting and filing of QFIIs and RQFIIs is improved
· Requirements for data submission are reduced

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