Qfll is the abbreviation of Qualified Foreign Investor, which refers to the accreditation system for overseas professional investment institutions to invest in China. QFLL is a transitional system for a country to introduce foreign capital and open its capital market to a limited extent when its currency is not fully convertible and its capital account is not yet open.

QFII system requires foreign investors to meet certain conditions before entering the China stock market. After a certain amount of foreign exchange funds are approved by the relevant state departments, they will be remitted into a special account under strict supervision and converted into local currency for investment in the local securities market.

On September 10, 2008, the State Administration of Foreign Exchange of China announced that it had decided to cancel the QFII/RQFII investment quota restriction with the approval of the State Council. At the same time, the restrictions of RQFII pilot countries and regions have also been cancelled.