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    csrc seeks public comments on the revision drafts of the tentative administrative measures for overseas securities investments of qualified domestic institutional investors and the supporting rules


    CSRC Seeks Public Comments on the Revision Drafts of the Tentative Administrative Measures for Overseas Securities Investments of Qualified Domestic Institutional Investors and the Supporting Rules



    On March 14, 2013, the China Securities Regulatory Commission ("CSRC") promulgated the revision drafts of the Tentative Administrative Measures for Overseas Securities Investments of Qualified Domestic Institutional Investors (the "Tentative Administrative Measures") and the supporting rules. The CSRC is seeking the public comments and the time is from March 14 to April 13, 2013.



    The Tentative Administrative Measures appropriately reduce the financial indicator threshold for the qualification of QDII business and increase the staffing requirements. Firstly, with regard to fund management companies, the provision that the net assets shall be not less than CNY200 million, with the operation of fund management of longer than 2 years and the scale of assets management of not less than CNY20 billion is cancelled; secondly, with regard to securities companies, the provision that the net capital shall be not less than CNY 800 million, with the operation of collective assets management plan of longer than 1 year is cancelled. After the revision, any companies may apply for the qualification of QDII business if they meet the requirements in respect of staffing, corporate governance, internal control system and standard operation.



    (Source: http://www.csrc.gov.cn)


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