If a QFII entrusts more than two custodians, it shall designate 1 custodian as the main declarant (if there are only 1 custodian, it will be the main declarant by default) and be responsible for handling industrial and commercial registration and other matters on its behalf. Article 4 The People's Bank of China, the State Administration of Foreign Exchange and their branches shall supervise, manage and inspect the fund accounts, fund receipts, payments and remittances of QFII according to law. Chapter II Registration Administration Article 5 The State Administration of Foreign Exchange shall administer the registration of securities and futures investment funds within the territory of qualified investors. Article 6 After obtaining the securities and futures business license of China Securities Regulatory Commission, a QFII shall entrust the chief reporter to submit the following materials and apply to the State Administration of Foreign Exchange for industrial and commercial registration:
(1) Registration Form of Overseas Institutional Investors (see Annex 1).
(2) A photocopy of the securities and futures business license.
The chief reporter shall earnestly perform his duties and strictly examine the authenticity of the materials provided by qualified investors. After handling the industrial and commercial registration, the State Administration of Foreign Exchange will feed back the relevant industrial and commercial registration certificate to the chief reporter. Chapter III Account Management Article 7 QFII shall open one or more special accounts for QFII with the custodian according to the business registration certificate issued by the State Administration of Foreign Exchange and the needs of investment and fund remittance.
Qualified investors who only remit foreign currency funds must open a special foreign currency account and a special RMB deposit account corresponding to the special foreign currency account; If only RMB funds are remitted, a special RMB deposit account must be opened; Where RMB and foreign currency funds are remitted at the same time, RMB special deposit accounts, foreign currency special accounts and RMB special deposit accounts corresponding to foreign currency special accounts shall be opened respectively, and the names of the two types of RMB special deposit accounts shall be effectively distinguished. Article 8 The income range of QFII's special foreign exchange account includes: the principal remitted by QFII from abroad and the foreign currency funds needed to pay relevant taxes (taxes, custody fees, audit fees, management fees, etc.). ), foreign currency interest income, funds transferred from foreign exchange derivatives transactions, funds transferred from RMB special deposit accounts corresponding to foreign currency special accounts, and other income that meets foreign exchange management regulations. Expenditure scope includes: transfer of foreign exchange settlement to RMB special deposit account corresponding to foreign currency special account, transfer of funds related to foreign exchange derivative transactions, remittance of principal and income abroad, and other expenditures that meet foreign exchange management regulations. Article 9 Qualified investors shall open RMB special deposit accounts and/or RMB special deposit accounts corresponding to foreign currency special accounts in accordance with the relevant provisions of the People's Bank of China on the management of RMB settlement accounts of overseas institutions (for details on the opening and use of RMB special deposit accounts, please refer to Annex 2 "Operational Guidelines for the Management of Domestic RMB Accounts of Overseas Institutional Investors"). Article 10 Unless otherwise provided by laws, regulations and rules, no funds may be transferred between the special account of a QFII and other domestic accounts.
Qualified investors who remit RMB and foreign currency funds at the same time shall not transfer funds between the two special RMB deposit accounts opened.
The funds in the special account of QFII shall not be used for purposes other than domestic securities and futures investment and risk management based on hedging, unless otherwise stipulated by laws, regulations and rules.
No cash may be withdrawn from the special account of QFII. Eleventh qualified investors special account funds deposit interest rate with reference to the relevant provisions of the people's Bank of China. Chapter IV Administration of Foreign Exchange Article 12 Qualified investors can independently choose remittance currency to invest in domestic securities and futures.
Qualified investors who remit foreign currency for investment can promptly notify the custodian to directly settle foreign currency funds needed for investment and transfer them to the RMB special deposit account corresponding to their foreign currency special account according to the investment plan. Qualified investors who remit RMB for investment can directly remit overseas RMB funds needed for investment into their RMB special deposit account according to the investment plan. Thirteenth qualified investors shall entrust the custodian to handle the remittance procedures of the relevant investment principal and income. Article 14 Where a QFII needs to remit the realized accumulated income, the custodian may handle the relevant fund remittance procedures for the QFII with the written application or instruction of the QFII and the letter of commitment issued by the QFII to pay taxes in full in accordance with the relevant tax laws and regulations of China.
In the liquidation of QFII (including product liquidation), the custodian can handle the remittance and cancellation procedures of relevant funds for QFII with the written application or instruction of QFII, the special audit report on investment income issued by China Certified Public Accountant and the tax filing form (except those that are not required to be provided according to regulations).