qfii

However, QFII assets have not been easy to come by, as many QFII managers are not in need of mainland-based investment advisers.

No other account except the special RMB account may be opened in the bank of the trustee by a QFII for carrying out its investment business.

Alongside the news allowing financial companies to open renminbi accounts came an announcement being referred to as mini-QFII.

Hu said the 'little QFII' program would be separate to that.

QFII should mandate its custodian to open a RMB settlement account on its behalf with securities registration and settlement institution.

Being purely locally owned could be a setback for China AMC in terms of building its QFII business.

Setting up a QFII or a QDII custodian requires two steps: qualifying as a custodian and applying for a business license.

"Considering the mid-to-long-term investment objectives of these QFII A-share funds, such schemes will probably persist, " Ms Hu says.

Article 15 With the approval of the SAFE, a QFII shall open only one special RMB account at the place of business of its custodian.

The most well-known of these is the so-called QFII (qualified foreign institutional investors) quota system.

Fifth, intensify the management on capital transfer of QFII as well as the requirement for statistical reports.

Invesco, which has already reached the limit of its $300m QFII quota, is keen to increase its exposure to Chinese domestic A-shares.

Complementary actions would be taken to promote greater foreign portfolio investment, whether under the new QFII regime or otherwise.

The CSRC also said it would soon unveil regulations for qualified foreign institutional investors to trade index futures.

Article 23. Upon the approval of SAFE, a QFII should open a RMB special account with its custodian.

Article 22. Securities firms should preserve the trading and transaction records of QFII for at least 15 years.

But seven years later, fewer than 100 foreign groups have been approved and less than $20bn of investment quotas have been awarded.

There have been altogether 34 overseas institutions admitted as qualified foreign institutional investor (QFII).

Article 2 A QFII shall entrust its custodian to go through all procedures stipulated in the Provisions on its behalf.

Each QFII quota is usually around $100m to $150m.

Chinese fund companies typically provide advisory and trade execution services to QFII clients.

The fiscal year for the calculation of a QFII's realized gains shall comply with the Chinese fiscal year.

Article 31. CSRC and SAFE should annually review QFII's Securities Investment Licence and Foreign Exchange Registration Certificate.

The second part speaks that the QFII gets into the background of market, is what kind of under the circumstance establishment of.

Bank Negara Malaysia declined to comment on how it intends to use its QFII quota, or how it allocates its reserves.

Launched in 2002, the QFII program allows overseas brokerage companies, fund houses and trust firms to invest in Chinese capital markets.

The new scheme would not compete with QFII.

article 25 a securities company that has obtained the qfii qualification may raise the capital by establishing a pool plan , etc .

The QFII's compliance with relevant foreign exchange regulations.

About 80 institutions have been granted a total of almost $16bn of investment quotas since QFII was introduced seven years ago.

Ifa QFII needs to adjust the hedging quota, it shall follow the relevant provisions of the CFFE.

Their dynamics in 2005 indicates that QFII will exert a considerable impact on the market turnover and fund size.

There are limits to the appeal of investing reserve assets under a QFII quota.

Total investments under QFII have grown to about $30bn since it was launched in 2003.

Article 3 A QFII and its custodian shall comply with relevant regulations and rules on foreign exchange administration in China.

The change in the QFII programme comes amid volatility in the Chinese stock markets.

Technically, Malaysia's isn't the first central bank to receive a QFII quota; Norges Bank gained approval in October 2006.

Nomura has a QFII licence and is using it in this fund, meaning it is free to buy A shares.

In 2003, China introduced a scheme to allow qualified foreign institutional investors (QFII) to buy Chinese securities.

The third part is a QFII's aggressive influence for Chinese stock market.

It follows 2003's QFII programme, which permits a number of big foreign investment firms to invest in China with foreign currencies.

That is a tiny percentage of the $88. 3 billion in international reserves Malaysia held at the end of May.

This is in contrast to QFII, which allows those same investors to convert foreign currencies into renminbi to invest in China.

"I think we have better knowledge of the Chinese market than any QFII investors, " says China AMC's Mr Zhang.

First, the limit of investment applied by one single QFII will be increased to 1 billion from 0. 8 billion.

If a QFII's investment quota changes, the QFII shall report it to the CFFE within 3 workdays.

It is expected that $10bn of mini-QFII quota will be issued.

About 50 per cent of companies with QFII licences and quotas use their in-house team to invest in China, Mr Kwok says.

Article 4. QFII should comply with laws, regulations and other relevant rules in China.

In order to restrict and guide the foreign capital to adjust the development of China's stock market, we demand the QFII Institution.

Ms Lam also underscored the importance of launching the mini qualified foreign institutional investor (QFII) programme in Hong Kong.

Harvest's QFII business is managed by its Hong Kong subsidiary Harvest Global Investments (HGI), which has expanded its sales team.

However, having a Hong Kong presence may help them sell their research capabilities to global funds that do get QFII quotas.

At the end of any trading day, the value of stock index futures contracts held by a QFII shall not exceed its investment quota;

II. A trustee may not open a sub-account of the special RMB account for a QFII;

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Ms Lam said Hong Kong institutions have a limited QFII quota so they cannot invest directly in China-listed A-shares.

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