国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

PBOC to regulate RQFII programs

Updated: 2012-01-05 10:17

(Xinhua)

  Comments() Print Mail Large Medium  Small

BEIJING - China's central bank on Wednesday issued guidelines to regulate foreign investors' yuan-denominated investment activities in China in preparation for a possible backflow of yuan into the mainland's equity markets.

New guidelines on the implementation of the Renminbi Qualified Foreign Institutional Investors (RQFII) program by the People's Bank of China (PBOC), the country's central bank, came just several days after the PBOC approved a 10.7-billion-yuan ($1.7 billion) investment quota for the first RQFII pilot program.

According to the new guidelines, overseas institutions under RQFII pilot programs should open their RQFII basic deposit accounts for settlement purposes, as well as RQFII special deposit accounts, in a Chinese commercial bank that is qualified to act as a QFII custodian, as well as a settlement agent, in the interbank bond market.

Pilot overseas institutions must create a separate special deposit account for each open-ended fund they launch, according to the guidelines.

They should not open a general deposit account for cash payments or a temporary deposit account for permanent institutions otherwise approved by the PBOC.

Pilot institutions can open three kinds of special deposit accounts in their custodian and settlement agent banks for their transactions in the interbank bond market, bourse and the stock markets. Capital can be transferred between the three special deposit accounts, the regulations said.

However, these institutions are not allowed to make capital transfers between special deposit accounts and basic deposit accounts. Cash withdrawals are also prohibited from special deposit accounts.

China announced the launch of the RQFII pilot program in December 2011 to widen the investment channel for overseas yuan funds in the Chinese mainland and facilitate the yuan's internationalization process.

Hong Kong subsidiaries of fund management companies and securities firms can use yuan funds raised in Hong Kong to invest in mainland securities within a permitted quota, according to the RQFII pilot program.

To control risks, the government set the total investment quota for RQFII pilot programs at approximately 20 billion yuan, ordering qualified investors to invest no less than 80 percent of yuan funds they raise in fixed-income securities, with investments in stocks and equity funds accounting for no more than 20 percent.

The Chinese currency is not fully convertible under capital accounts, although China has stepped up efforts in recent years to internationalize the yuan.

The Chinese government has encouraged the use of yuan in cross-border trade and investment settlement and approved foreign direct investment in overseas yuan funds obtained overseas.

It also allowed Hong Kong to establish an offshore yuan market and has expanded trade settlement agreements and currency swaps to create more channels for the yuan to circulate outside the mainland.

清徐县| 安陆市| 法库县| 綦江县| 桓仁| 平果县| 海丰县| 五指山市| 神农架林区| 湘西| 兴宁市| 读书| 龙里县| 上杭县| 西安市| 奎屯市| 衡南县| 康平县| 儋州市| 温宿县| 西乌珠穆沁旗| 鹤庆县| 乐亭县| 潜山县| 红原县| 新巴尔虎右旗| 恩施市| 工布江达县| 客服| 甘南县| 寻乌县| 荆门市| 广水市| 资兴市| 年辖:市辖区| 洪洞县| 讷河市| 扎兰屯市| 长泰县| 上虞市| 建瓯市|