The QFII scheme is regulated by the CSRC, PBC and SAFE. More specifically, the CSRC is responsible for qualification approval, and the PBC and SAFE is responsible for overseeing cross-border fund management, while the SSE formulated guidelines in accordance with the above regulators' regulations to implement the QFII scheme.

SSE Guidelines

Guidelines No.1 on the Application of Securities Trading Rules of the Shanghai Stock Exchange for Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors
Q&A on the guidelines

CSRC Rules and Regulations

SAFE Rules and Regulations

Taxation Rules

	Exchange Market	China Inter-bank Market (CIBM)
Capital Gain	On 14 November 2014, Ministry of Finance (MOF), State Taxation Administration (SAT) and CSRC jointly issued a notice regarding the tax treatment on capital gains for QFII and RQFII It was advised that QFII and RQFII will be temporarily exempted from corporate income tax (CIT) for the capital gains derived from transferring stocks and other equity investment in Mainland China effective from 17 November 2014, and the capital gains derived before 17 November 2014 shall pay corporate income tax http://www.chinatax.gov.cn/chinatax/n362/c484890/content.html (Chinese)	On 8 November 2017, PBOC released Operational Procedures for overseas institutional investors to Enter CIBM and stated that the capital gain realized from bond sales is temporarily exempt from CIT
Dividends and Coupon Interest	Dividends are subject to 10% CIT QFII/RQFII who are eligible for a lower tax rate under a tax treaty can apply to the competent tax bureau for tax relief or reimbursement http://www.chinatax.gov.cn/n810341/n810765/n812166/n812652/c1189689/content.html (Chinese)
Dividends and Coupon Interest	From 7 November 2018 till 6 November 2021, coupon interest in domestic bond market is exempt from CIT and value-added tax (VAT) for overseas institutional investors http://www.chinatax.gov.cn/n810341/n810755/c3912855/content.html(Chinese)