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China further eases rules for foreign investors in financial markets


China is streamlining regulations to encourage foreign institutional investment in its financial markets. The People's Bank of China and the State Administration of Foreign Exchange (SAFE) recently released draft revisions simplifying the management of funds by foreign institutions investing in Chinese securities and futures. These institutions, participating through platforms like the Qualified Foreign Institutional Investor (QFII) or Renminbi Qualified Foreign Institutional Investor (RQFII), will benefit from easier registration processes, fewer account openings, simplified earnings remittance abroad, and improved foreign exchange risk management. The revisions aim to enhance operating efficiency and demonstrate China’s commitment to opening its capital market. Notably, foreign investors will need only one tax compliance commitment letter for earnings remittance and can access onshore foreign exchange market transactions through multiple financial institutions.

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