Page 83 - 期货和衍生品行业监管动态（2022年11月）

期货和衍生品行业监管动态

Investors in China’s Bond Market (2022/11/18)

To promote the two-way opening-up of China’s financial market, the People’s

Bank of China and the State Administration of Foreign Exchange have recently

released the Rules on Funds Invested by Overseas Institutional Investors in China’s

Bond Market. Clarifying how the funds invested in the market shall be managed,

the Rules is conducive to making China’s bond market more accessible and more

appealing to overseas institutional investors (“OII”).

Highlights of the Rules include: First, providing a uniform set of rules on matters

relating to OII investment in China’s bond market, such as funds account, payments

and receipts, currency exchange, and statistical monitoring. Second, improving the

management of spot purchase and sale of foreign currencies, in particular permitting

OIIs to complete transactions through a third-party financial institution other than
settlement agents. Third, optimizing the policies on currency risk management, by

providing additional avenues through which OIIs can hedge against FX exposures and

removing the existing limit on the number of counterparties in OTC transactions.

Fourth, strengthening the consistency management of inbound and outbound

currencies, streamlining the outward remittance process, and encouraging long-term

investment in China’s bond market. Fifth, clarifying the foreign exchange

management requirements for sovereign investors. In particular, sovereign investors

that invest through a custodian or settlement agent (commercial bank) shall complete

registration at the relevant bank.

The Rules will take effect on January 1, 2023.

http://www.pbc.gov.cn/zhengwugongkai/4081330/4406346/4693545/4713898/index.h

tml

5. 中国证监会就《证券期货违法违规行为举报工作规定（征求意见稿）》公开

征求意见（2022 年 11 月 25 日）

70