China Removes Quotas for Foreign Institutional Investors Under the QFII and RQFII Schemes
摘要
In a further effort to attract foreign institutional investors to allocate offshore funds into China’s deep equity and debt capital markets, the State Administration of Foreign Exchange (“SAFE”) this past week announced that the Chinese Government will end the system of quotas for both the Qualified Foreign Institutional Investor (“QFII”) and the RMB Qualified Foreign Institutional Investor (“RQFII”) schemes. As next steps, this reform will be formally implemented by SAFE immediately revising its relevant regulations and applying to the PRC State Council to cancel related approval requirements.