Page 666 - 《期货和衍生品行业监管动态》（2022年合集）

期货和衍生品行业监管动态

管理，允许境外机构投资者通过结算代理人以外的第三方金融机构办理。三是优

化外汇风险管理政策，进一步扩大境外机构投资者外汇套保渠道，并取消柜台交

易的对手方数量限制。四是优化汇出入币种匹配管理，提升境外机构投资者投资

资金汇出便利性，鼓励长期投资中国债券市场。五是明确主权类机构外汇管理要

求,通过托管人或结算代理人（商业银行）投资的主权类机构投资者，应在银行

办理登记。

《规定》自 2023 年 1 月 1 日起施行。

Notice of the People’s Bank of China and State Administration of Foreign

Exchange on Issuing the Rules on Funds Invested by Overseas Institutional

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

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