Last week, China’s foreign exchange regulator – the State Administration of Foreign Exchange (“SAFE”) – announced the removal of investment quota limits for qualified foreign institutional investors (“QFIIs”) and renminbi qualified foreign institutional investors (“RQFIIs”).  This signals the further opening-up of China’s financial markets to foreign investors. 
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8月16日,中国人民银行(“央行”)发布公告(〔2019〕第15号,以下简称为“15号令”),决定改革完善贷款市场报价利率(即 Loan Prime Rate,以下简称为“LPR”)形成机制。根据15号令,各银行应在新发放的贷款中主要参考贷款市场报价利率定价,并在浮动利率贷款合同中采用贷款市场报价利率作为定价基准。并且,报价行应于每月20日9时前向全国银行间同业拆借中心报价。
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Written by Stanley Zhou, Andrew Fei and Keith Huang

A few days ago, the Chinese government announced a series of measures to further open up China’s financial markets and financial services sector to foreign investment and participation. This article provides an overview of the announced measures and their key implications for foreign financial institutions and investors.


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