--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates


Hot Links
China Development Gateway
Chinese Embassies


Unlocking Securities Market
China's securities regulator yesterday confirmed the creation of a more level playing field for qualified foreign institutional investors (QFII).

A circular released by the China Securities Regulatory Commission (CSRC) revealed that QFII can now get wider access to the domestic securities market, besides listed A shares and bonds.

They can also invest in closed-end and open-end funds, with no investment ratio limits. They will also be able to buy into initial public offerings, additional share issues, rights shares and convertible bonds, said the circular published on the CSRC website.

The move followed recent market speculation that the QFII investment sphere would be extended.

China issued detailed regulations on the QFII scheme last November, which went into effect in December as a transitional measure to open up the securities market when the renminbi is still not fully convertible under the capital account.

The rules defined that foreign investors that match relative qualifications can invest in A shares listed in Shanghai and Shenzhen stock markets, treasury and corporate bonds and "other financial tools approved by the Chinese authorities," but did not elaborate on the final part.

So far, China has approved five domestic banks and three foreign banks as QFII custodians, which would enable QFII to set up special accounts and remit money to invest in currently domestic A shares, funds and bonds.

A number of foreign institutions are working on their applications to the CSRC, including Deutsche Bank, UBS Warburg and Goldman Sachs.

Some have already handed in their initial proposals and are now finalizing their deals with the custodians.

(China Daily March 20, 2003)


Hong Kong Shares Close off Highs on War Fears
Clear-up Due for Securities Market: CSRC
CSRC Vows to Brace Market Regulations
Nine Banks Get Approval for QFII Custodian
Strict Rules to Strengthen Regulation of Listed Firms
QFII to Fuel Domestic Custodian Business
Detailed Rules on Securities Investments Issued
QFII Sparks Financial Clamor
Securities Market to Open Wider to Foreign Investors
China Regulates Forex From Overseas Listings
Draft Law on Securities Investment Funds Under Scrutiny
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688