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QFII investment quota of Yale University approved 2006-08-10/en/2006/0810/796.html
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The branches and foreign exchange administrative departments of the State Administration of Foreign Exchange (SAFE) in all provinces, autonomous regions, and municipalities directly under the Central Government; the branches in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo; all designated Chinese-funded foreign exchange banks, and China UnionPay Co., Ltd.: To standardize and facilitate operation by banks and individuals in respect of foreign exchange business and improve classified regulation of individual players for foreign exchange trading, the State Administration of Foreign Exchange (SAFE) decides to further improve the administration of individual foreign exchange as the individual foreign exchange business monitoring system is launched. The relevant issues are hereby notified as follows: I. The individual foreign exchange business monitoring system will be launched nationwide on January 1, 2016, and at the same time, the management information system for foreign exchange settlement and sales for individuals will be no longer in use. Banks that have the qualifications for handling foreign exchange settlement and sales (bank) shall handle individual foreign exchange business such as settlement and purchases of foreign exchange through this monitoring system and report relevant business data accurately, completely and in time. II. In handling foreign exchange business, individuals shall observe relevant regulations in respect of the administration of individual foreign exchange and are not allowed to evade quota and authenticity management in a split way. If doing so, these individuals will be put on a watch list by the SAFE and its branches and sub-branches (foreign exchange authorities). (I) Foreign exchange authorities will issue the Risk Reminder Notification for Individual Foreign Exchange Business (see Appendix 1) as a risk reminder to individuals who lend their quota to another individual for the evasion of quota and authenticity management. If this happens again, these individuals will be put on a watch list by foreign exchange authorities. (II) Foreign exchange authorities will put individuals who borrow another individual's quota for the evasion of quota and authenticity management on a watch list and notify them through the Notification on Watch List for Individual Foreign Exchange Business (see Appendix 2) issued by banks. (III) The watch period of an individual on a watch list is the year the individual is put on the watch list and the two consecutive years that follow. During this period, the individual has to present his/her valid ID card and evidencing materials indicating the trading amount to go through procedures for settlement and sales of foreign exchange for individuals. Banks shall review relevant evidencing materials in strict accordance with the authenticity review principles. III. Banks shall cooperate with foreign exchange authorities in inspecting individuals and institutions involved in the evasion of quota and authenticity management, and report, within 20 days since the day the individual foreign exchange business monitoring system pushes relevant information, the purposes of individual settlement of foreign exchange, the sources of funds for purchases of foreign exchange and other information required by foreign exchange authorities. IV. Foreign exchange authorities and banks shall access the individual foreign exchange business monitoring system through the SAFE's application service platform. The details are as follows: Type of user Way of access Interface Foreign exchange authorities Intranet http://100.1.48.51:9101/asone/ Banks External net http://banksvc.safe (Main login interface) http://asone.safe:9101/asone/ (Backup login interface) Foreign exchange authorities and banks shall assign technicians and business operators for the daily maintenance of the individual foreign exchange business monitoring system to ensure smooth operation of the system. V. In case of a nationwide systemic error in the individual foreign exchange business monitoring system, foreign exchange authorities and banks shall take emergency measures in accordance with the Emergency Plan for the Individual Foreign Exchange Business Monitoring System (see Appendix 3) to ensure the smooth and timely handling of individual foreign exchange business. VI. The foreign exchange settlement and sales under the individual remittance business of China UnionPay Co., Ltd., and individual domestic and foreign currency exchange business handled by franchised institutions for domestic and foreign currency exchange for individuals (franchised institutions) shall be handled in accordance with this Circular. Where there are provisions as otherwise stated in respect of foreign exchange administration, those provisions shall prevail. VII. This Circular shall take effect as of January 1, 2016. At the same time, the Circular of the General Affairs Department of the State Administration of Foreign Exchange on Regulating Operations of Foreign Exchange Settlement and Sales for Individuals by Banks (Huizongfa No. 90 [2007]), the Circular of the General Affairs Department of the State Administration of Foreign Exchange on Promulgating the Emergency Plan for the Management Information System for Foreign Exchange Settlement and Sales for Individuals (Huizongfa No. 49 [2008]), the Circular of the State Administration of Foreign Exchange on Printing and Distributing the Interim Measures for Administration of Foreign Exchange Settlement and Sales for Individuals through E-banking (Huifa No. 10 [2011]), the Circular of the State Administration of Foreign Exchange on Trial Implementation of the "Watch List" Management of Individual Splitting Foreign Exchange Settlement and Sales by Banks Engaging in E-Channeled-based Foreign Exchange Settlement and Sales for Individuals (Huifa No. 41 [2011]), the Circular of the General Affairs Department of the State Administration of Foreign Exchange on Regulating the Review of Access to Foreign Exchange Settlement and Sales for Individuals through E-banking (Huizongfa No. 77 [2013]) will be nullified. In case of any discrepancies with prior regulations, this Circular shall prevail. Upon receipt of this Circular, all branches and foreign exchange administrative departments of the SAFE should immediately forward it to the central sub-branches, sub-branches, urban and rural commercial banks, foreign banks and franchised institutions. The designated Chinese-funded foreign exchange banks shall, upon receipt of this Circular, forward it immediately to their branches. Please report any problems encountered in implementation to the SAFE in a timely manner. Business Enquiry Hotline: 010-68402673 (Bank business) 010-68402295 (Franchised institution business) Technology Enquiry Hotline: 010-68402674 Appendix: 1. Risk Reminder Notification for Individual Foreign Exchange Business 2. Notification on Watch List for Individual Foreign Exchange Business 3. Emergency Plan for the Individual Foreign Exchange Business Monitoring System State Administration of Foreign Exchange December 25, 2015 FILE: Risk Reminder Notification for Individual Foreign Exchange Business FILE: Notification on Watch List for Individual Foreign Exchange Business FILE: Emergency Plan for the Individual Foreign Exchange Business Monitoring System 2016-01-13/en/2016/0113/775.html
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The branches and foreign exchange administrative departments of the State Administration of Foreign Exchange (SAFE) in all provinces, autonomous regions, and municipalities directly under the Central Government, and the branches of the SAFE in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo: To improve the domestic and foreign currency exchange services for domestic individuals, and facilitate and regulate the franchise domestic and foreign currency exchange business for individuals (“franchise business”), this Circular is hereby issued to clarify the issues regarding the provision of the exchange services by institutions that conduct the franchise business(“franchise institutions”) through the Internet. I. For the purpose of this Circular, the term “exchange through the Internet” refers to the process during which a domestic individual places an order with a franchise institution for foreign currency banknotes or electronic traveler’s checks and completes payment for the order through electronic channels such as the Internet and mobile terminals, and withdraws the banknotes or traveler’s checks through an outlet of the franchise institution or other eligible outlet. II. A franchise institution providing the exchanges through the Internet shall meet the following conditions: (I) having a good credit standing, and being free from significant noncompliance with the regulations on the franchise business over the last 2 years; (II) having a necessary administrative system in place for the business; (III) having software & hardware facilities and personnel required by the business; and (IV) other requirements imposed by the SAFE. III. Prior to the provision of the exchanges through the Internet, the head office of a franchise institution should ensure that the business is filed with a branch or an administrative department of the State Administration of Foreign Exchange in a relevant province, autonomous region or municipality directly under the Central Government (“SAFE branch”) in writing or via email. The documents required for the filing include: (I) the business process, roles and responsibilities of the personnel, description of the ordering system, management of the provision for payment, description of customer information validation, and the anti-money laundering system for the exchanges through the Internet; (II) description of the ability to record each transaction of the exchanges through the Internet; (III) copies of payment & settlement agreements with banks and third party payment institutions, cooperation agreements with partners, and exchange agreements with customers; and (IV) other materials required by a SAFE branch. IV. A SAFE branch shall verify the filings submitted by a franchise institution within its jurisdiction in an appropriate manner; if there is no dissent within 20 working days, the franchise institution can provide exchanges through the Internet at its sole discretion. V. A franchise institution shall comply with the following requirements for the exchanges through the Internet: (I) the ordering service may be provided to customers through channels such as proprietary website, a partner’s website or mobile terminal. For the ordering service provided through channels other than the proprietary website, the responsibilities of institutions and customers must be indicated on the ordering interface, and that the exchange service is provided by the franchise institution must be specified; (II) the franchise institution may, based on its circumstances, provide compliant online payment channels (such as debit card online banking and third party payment) to customers, and input the completed payment into the individual foreign exchange monitoring system; (III) the franchise business conducted by the franchise institution must not exceed the relevant requirements on the provision for payment and the exchange quota; (IV) the franchise institution shall verify a customer's identity, ensure the ordering customer is the withdrawer, and keep the photocopies or electronic copies of the customer's personal ID certificate for the withdrawal; (V) the head office of the franchise institution should include the separate statistics of the exchanges through the Internet in the current franchise business statements. VI. The outlets for the withdrawal of foreign currency banknotes (including traveler’s checks) shall be owned by the franchise institution. A franchise institution approved to conduct nationwide franchise business may establish withdrawal outlets across the country at its sole discretion; if approved of conducting franchise business within the jurisdiction of a particular SAFE branch, the franchise institution may, at its sole discretion, establish outlets within the business range, but must not establish any outlet for offline withdrawal outside the jurisdiction. For the addition of other types of outlets (limited to foreign currency exchange points under outlets of banks or other franchise institutions, or under the SAFE itself), a new outlet must be able to ensure the security of banknotes and travelers' checks and be equipped with video monitoring facilities, and the head office of the franchise institution is required to file with the local SAFE branch by presenting the following documents; if there is no dissent within 20 working days, the new outlet may commence doing business at its sole discretion: (I) description and relevant qualification certificates of the withdrawal outlet (such as license of a financial institution, letter of confirmation for foreign currency exchange outlet, and license of domestic and foreign currency exchange franchise businesses for individuals); (II) documents evidencing the existence of equipment and facilities for the withdrawal, including but not limited to monitor video and cash storage cabinet; (III) cooperation agreement between both parties and their relevant management mechanisms; and (IV) other materials required by a SAFE branch. VII. Every SAFE branch should intensify ex-post regulation of the franchise institutions within its jurisdiction, prevent and timely address the default and compliance risks of the franchise institutions, protect the rights and interests of consumers, and watch out for the implementation of administrative measures regarding the authenticity and financial security of customers for the purpose of effective risk control during its daily regulation. Any abnormality must be immediately dealt with and reported to the SAFE. VIII. This Circular shall enter into force as of the date of issuance. In case of any inconsistency between previous provisions and this Circular, this "Circular" shall prevail. The SAFE branches shall, upon receipt of this Circular, promptly forward it to the central sub-branches and sub-branches as well as the franchise institutions within their respective jurisdiction. State Administration of Foreign Exchange September 28, 2015 2015-12-09/en/2015/1209/771.html
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The branches and foreign exchange administrative departments of the State Administration of Foreign Exchange (SAFE) in all provinces, autonomous regions, and municipalities directly under the Central Government; the branches of the SAFE in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo： To further regulate the foreign currency banknotes business for domestic institutions and satisfy their demand, the State Administration of Foreign Exchange (SAFE) has developed the Measures for Managing the Receipts and Payments of Foreign Currency Banknotes by Domestic Institutions (see appendix), which are hereby issued for your compliance and implementation. Upon receipt of this Circular, the SAFE branches and foreign exchange administration departments should immediately forward it to the central sub-branches (sub-branches), local commercial banks, and foreign banks within their respective jurisdiction, and all designated Chinese-funded foreign exchange banks should promptly forward it to their branches. If you have any questions during the execution of these documents, please promptly contact the Current Account Management Department of the SAFE. Appendix: Measures for Managing the Receipts and Payments of Foreign Currency Banknotes by Domestic Institutions State Administration of Foreign Exchange December 18, 2015 FILE: Measures for Managing the Receipts and Payments of Foreign Currency Banknotes by Domestic Institutions 2016-01-08/en/2016/0108/774.html
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QFII custodian banks, To facilitate the domestic securities investments of Qualified Foreign Institutional Investors (QFIIs), the State Administration of Foreign Exchange (SAFE) has formulated the QFII Quota Administration Guideline (see the appendix), in accordance with the Measures for the Administration of the QFII’s Domestic Securities Investments (No. 36 Order of China Securities Regulatory Commission, the People’s Bank of China and the SAFE) and the Regulations on the Foreign Exchange Administration for the QFII’s Domestic Securities Investments (No. 1 SAFE Announcement [2009], modified as per the No. 2 Announcement [2012] issued by the SAFE). This Guideline is now issued to you for implementation. Appendix: QFII Quota Administration Guideline General Affairs Department of the State Administration of Foreign Exchange September 30, 2015 FILE: QFII Quota Administration Guideline 2015-12-15/en/2015/1215/772.html
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To accelerate the development and boost the opening up of the foreign exchange market, the issues on extending the foreign exchange trading time and introducing qualified foreign players are clarified as follows: First, extending the foreign exchange trading time. Beginning from January 4, 2016, the interbank foreign exchange trading system will be in operation until 23:30 every day, Beijing time, and accordingly, the time that market management systems apply, with regard to the central parity rate and the range of fluctuation of the RMB exchange rate, and the market maker quotation will be extended. China Foreign Exchange Trade System (CFETS) has announced that the strike price of spot inquiry about the exchange rate of the RMB against the USD at 16:30 Beijing time will be regarded as the closing price of the day. Second, introducing qualified foreign players. After applying to the CFETS for becoming a member of the interbank foreign exchange market, qualified overseas players approved to provide RMB purchases and sales services can access the interbank foreign exchange market, and participate through the trading system of the CFETS in the trading of all listed trading categories allowed in the RMB purchases and sales business, including spot, forward, swap and options transactions. Foreign players shall participate in the trading under RMB purchases and sales in the interbank foreign exchange market, in accordance with laws and regulations. Third, market intermediaries and service providers including the CFETS and Shanghai Clearing House shall do their part to ensure the level of services. People's Bank of China，State Administration of Foreign Exchange December 21, 2015 2015-12-29/en/2015/1229/773.html
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Temporary rules on administrating domestic banks' overseas foreign exchange investment services on behalf of their clients released, to standardize domestic banks' operation and expand investment channels for domestic residents steadily. 2006-04-18/en/2006/0418/781.html
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QFII investment quota of United Overseas Bank Limited approved 2006-11-15/en/2006/1115/813.html
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QFII investment quota of DBS Bank Ltd approved 2006-04-14/en/2006/0414/780.html
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QFII investment quota of Stanford University approved 2006-11-15/en/2006/1115/812.html