On 5 May 2020, the People’s Bank of China (“PBOC”) and the State Administration of Foreign Exchange (“SAFE”) issued the Regulations on Fund Administration for Domestic Securities and Futures Investments by Foreign Institutional Investors (“New Regulation”, as supplemented with the FAQs published by SAFE[1]), introducing the latest round of reforms to the QFII and RQFII schemes – China’s two major inbound investment systems. The New Regulation will take effect on 6 June 2020.
Continue Reading Latest relaxations in the QFII and RQFII regimes

Continue Reading 境外机构投资者(QFII/RQFII)政策的最新开放

By  King & Wood Mallesons’ Tax Group

On 31st October, 2014, the Ministry of Finance, State Administration of Taxation (SAT) and China Securities Regulatory Commission jointly published Cai Shui [2014] No.79 (Circular 79) to clarify enterprise income tax (EIT) policy for capital gains with respect to QFIIs/RQFII. Under Circular 79, QFIIs/RQFIIs are temporarily exempt from EIT on China-sourced capital gains derived from transfer of equity investment assets (including shares) effective from 17th November, 2014. However, at the same time, it provides that the abovementioned capital gains derived prior to 17th November, 2014 shall be subject to Chinese EIT. 
Continue Reading Chinese Tax Authorities will recently commence tax cleaning-up activities targeting incomes of QFIIs/RQFIIs

作者:金杜律师事务所 税务组

Continue Reading 中国税务局将对QFII/RQFII展开追征税款专项清理活动

作者:董刚 章慈 金杜律师事务所税务

Continue Reading 沪港通、QFII、RQFII税收新政