The foreign exchange bureau relaxed QFII limit relaxed funds out of restricted Securities Times reporter Sun Lulu, although the central bank foreign exchange capital outflow channels gradually narrowed, but in order to promote cross-border capital "blocking", the foreign exchange bureau is to further relax capital inflow channels, to facilitate investment in the territory of the capital territory. The Bureau of foreign exchange issued new regulations yesterday, simplifying the approval process of qualified foreign institutional investors (QFII), and relaxing the access limit. To relax the single investment ceiling, the new regulation is called "foreign exchange regulations for qualified foreign institutional investors in domestic securities investment". Overall, the new regulations in the QFII investment amount, exchange management, the main lock period and other aspects of a certain degree of relaxation, to further facilitate the QFII funds in and out. The amount of investment, broaden the investment limit of single QFII institutions, no longer set the unified investment limit of single institutions, but the introduction of the basis of the amount and the amount of new concept of the two, and the amount of calculation formula of foundation of QFII, increase the transparency of QFII inflows. According to the regulations, QFII can obtain the basic amount of investment by filing after obtaining the qualification approval of the CSRC, and apply for approval of the foreign exchange bureau after the application of the investment limit of the basic amount. According to the formula, the QFII base amount is limited between $20 million and $5 billion. It is worth noting that the previous foreign sovereign funds, central banks and monetary authorities and other three types of institutions require investment scale of more than 1 billion U.S. dollars, but did not specify the upper limit, the new regulations also clear that the above-mentioned three types of institutions based on the amount of investment shall not exceed 5 billion U. s.dollars. For the exchange management, the provisions of the provisions of the QFII investment principal is no longer set the deadline requirements, and previously requested QFII should be in each investment amount granted within 6 months from the date of investment into the principal. The preparation period for foreign exchange settlement of funds required for investment is also elongated. According to the regulation, QFII can notify the custodian directly in accordance with the investment plan and other 30 working days before the actual investment (before requiring 10 working days before the investment) to directly exchange the required foreign exchange funds of the investment and enter it into the RMB account. Continue to encourage the inflow of funds, but the new regulations on the extent of the relaxation of capital export is less than the inflow of funds. Lu Dong, chief economist of Industrial Bank and Huafu securities, said that this reflects the current foreign exchange bureau’s attitude towards cross-border capital. The regulations still require that QFII’s monthly net remitted capital (principal and income) shall not exceed 20% of its gross domestic assets at the end of the year. Just open fund according to the netting purchase or redemption, handled by the custodian of its daily (previously handled by the week) related funds to import or export. In addition to the amount of investment approval, exchange management to relax, the "provisions" also shortened the lock in period of investment principal. The requirement to open the lock China fund investment period of 3 months, other qualified investors locked for a period of 1 years, and the new regulations will be replaced by the lock up period of 3 months. It is worth noting that the "Regulations" required by the lock regularly, since Q is on

外汇局松绑QFII额度 放宽资金进出限制   证券时报记者 孙璐璐   虽然近期央行、外汇局逐步收窄资金流出渠道,但为了促进跨境资金“有堵有疏”,外汇局正进一步放松资金流入渠道,促进境外资金的境内投资便利化。   外汇局昨日出台新规,简化合格境外机构投资者(QFII)审批程序,大举放宽准入额度。   放宽单家投资上限   上述新规全称为《合格境外机构投资者境内证券投资外汇管理规定》。总体来看,该新规在QFII投资额度、汇兑管理、本金锁定期等方面都予以一定程度的放松,进一步便利QFII资金的进出。   在投资额度方面,放宽单家QFII机构投资额度上限,不再对单家机构设置统一的投资额度上限,而是引入基础额度和新增额度两大概念,并明确QFII的基础额度计算公式,增加QFII资金流入的透明度。   《规定》称,QFII在取得证监会资格许可后,可通过备案获得基础额度的投资额度;超过基础额度的投资额度申请,才须经外汇局批准。   根据计算公式,QFII基础额度被限定在2000万美元至50亿美元之间。值得注意的是,此前境外主权基金、央行及货币当局等三类机构要求投资规模可超10亿美元,但未规定上限,新规也明确上述三类机构的基础投资额度不得超过50亿美元。   汇兑管理方面,对于资金汇入,《规定》对QFII投资本金不再设置汇入期限要求,而此前要求QFII应在每次投资额度获批之日起6个月内汇入投资本金。   投资所需的外汇资金结汇准备期也被拉长。《规定》称,QFII可根据投资计划等,在实际投资前30个工作日(此前要求在投资前10个工作日)内通知托管人直接将投资所需外汇资金结汇并划入其人民币账户。   继续鼓励资金流入   不过,新规对资金汇出的放宽程度不及资金的汇入。兴业银行兼华福证券首席经济学家鲁政委表示,这体现了当前外汇局对跨境资金宽进严出的态度。《规定》依旧要求,QFII每月累计净汇出资金(本金及收益)不得超过其上年底境内总资产的20%。只是开放式基金可根据申购或赎回的轧差净额,由托管人为其按日办理(此前为按周办理)相关资金的汇入或汇出。   除在投资额度审批、汇兑管理方面予以放宽外,《规定》还缩短了投资本金的锁定期。此前要求开放式中国基金的投资本金锁定期为3个月,其他合格投资者的锁定期为1年,而新规将锁定期一律改为3个月。   值得注意的是,《规定》所要求的本金锁定期,是自QFII累计汇入投资本金达到等值2000万美元之日起计算。而此前要求锁定期需自QFII足额汇入本金之日起计算。这意味着,不仅锁定期大幅缩短,锁定期的计算标准也有放宽。   鲁政委表示,目前跨境资金方面的政策主要立足于鼓励资金流入,在目前资本流出压力加大、人民币贬值预期下,有利于平衡跨境资金流动。   “当前政府出台资本项下改革方面的政策,主要是一种对冲的思维。在人民币有升值压力的时候,主要是控流入、鼓励流出;在人民币有贬值压力的时候,则旨在控流出、鼓励流入。”鲁政委称。 进入【新浪财经股吧】讨论相关的主题文章: