Overseas Investors Will Expand Their Investment Scope.

China's interbank market will further liberate foreign investors.

According to Reuters quoted sources, the above policies will be implemented as soon as possible in May of this year. The investment quota of QFII (qualified overseas institutional investors) and RQFII (RMB qualified foreign institutional investors) will be changed from the former approval system to the filing system. The scope of investment can also be extended to large negotiable certificates of deposit (CD) and repo transactions. Interest rate swap Derivatives trading. The fastest system will be released in May.

Zhou Xiaochuan, governor of the Central Bank of China, said last week that he would strive to achieve convertibility of capital account this year, including the more facilitation of individual investors inside and outside the country. Currently resident abroad Investment At present, China mainly adopts QFII, which is not convenient and flexible.

In the annual report of the people's Bank of China 2013, China's central bank It has said that it will further expand the qualification of qualified domestic institutional investors (QDII) and qualified foreign institutional investors (QFII) and increase investment quotas. "When conditions are ripe, the qualification and quota approval will be disqualified, and the relevant investment facilities will be extended to all legitimate institutions both inside and outside the country."

Reuters quoted another source as saying: "before RQFII, it is a fixed income product that can be invested in the interbank bond market. It will be further liberalized. It will not exclude repurchase, swaps, interbank deposit certificates and non-public directional debt financing instruments (PPN). The relevant investment will also be extended to all legitimate institutions both inside and outside the country."

At the end of 2011, the Central Bank of China and the State Administration of foreign exchange approved the launch of the RQFII pilot. In March 2012, 18 RQFII companies such as Shenyang Wanguo (Hongkong) were allowed to enter the interbank bond market, and in 2013, QFII was allowed to enter the interbank market. In 2013, three types of overseas institutions (offshore central banks, Hong Kong and Macao clearing banks and overseas participating banks) also allowed investment in interbank bond markets. Subsequently, the application criteria for RQFII qualifications had been relaxed to many financial institutions with countries and regions with offshore RMB clearing centers.

According to Reuters, as of February 27th, the total number of approved QFII institutions was 265, with a total approved amount of $69 billion 723 million, and the RQFII 103 family had been approved, with a total quota of 311 billion 500 million yuan. Among them, 14 QFII and more than 60 RQFII have become members of the interbank currency market. They can entrust commercial banks to carry out transactions and settlement in the inter-bank bond market.

Related links:

25, reporters learned from the CBRC website that in from March 19th to 20th, the Twelfth Meeting of the International Advisory Committee of the CBRC was held in Beijing. Shang Fulin, chairman of the China Banking Regulatory Commission, briefed the foreign members on China's current macroeconomic and financial situation as well as banking reform, development and regulatory innovation, and pointed out that in the new normal, China's banking industry must make adjustments in a timely manner, continue to promote reform and opening up, constantly improve the supervision system, actively promote financial innovation and comprehensively promote the rule of law in the banking sector.

The topics discussed at the conference include improving corporate governance of commercial banks, improving banking recovery and disposal system, effectively supervising shadow banking, Internet banking, promoting Inclusive Finance and strengthening consumer protection. Foreign members have highly praised the achievements made in China's banking supervision, and have discussed enthusiastically with Chinese participants in key areas of banking reform, and put forward a series of constructive suggestions.