综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

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.

阿合奇县| 开平市| 昌江| 南安市| 如皋市| 鹤岗市| 遂宁市| 贵溪市| 都昌县| 竹山县| 临湘市| 长沙县| 游戏| 金堂县| 石河子市| 门头沟区| 塔城市| 阿拉善左旗| 黔西县| 望奎县| 台前县| 威海市| 泰和县| 阳曲县| 日喀则市| 家居| 淳化县| 永安市| 调兵山市| 台湾省| 阜城县| 通榆县| 松阳县| 福鼎市| 蒲城县| 盐山县| 吉木萨尔县| 黄浦区| 云和县| 新丰县| 贺兰县|