This system requires foreign investors to meet certain conditions if they want to enter a country's securities market, remit a certain amount of foreign exchange funds after approval by the relevant departments of the country, and convert them into local currency through a special account under strict supervision to invest in the local securities market.
"QFII special deposit account" is also a special account opened by overseas qualified investment institutions for investing in the domestic stock market. This account can buy and sell stocks and so on. , can't access cash.
Extended data
bid document
When applying for opening a special deposit account, depositors should submit the Certificate for Opening basic deposit account, the Permit for Opening an Account in basic deposit account and the following documents to the People's Bank of China: (Only one special deposit account can be opened with the same certificate).
1. Capital construction funds, renovation funds and policy real estate development funds must be approved by the competent authorities.
2. For extra-budgetary funds, a certificate from the financial department shall be issued.
3, grain, cotton, oil purchase funds, should be issued by the competent department of approval.
4, the unit bank card reserve, should be in accordance with the provisions of the articles of association of the bank card, issued by the people's Bank of China approved the relevant certificates and materials.
5. Securities trading settlement funds shall be issued by securities companies or securities management departments.
6. The margin for futures trading shall be issued by the futures company or the futures management department.
7. Financial institutions shall issue certificates when depositing interbank funds.
8. For income remittance and business expenses, relevant certificates of depositors in basic deposit account shall be issued.
9, the party, the league, the trade union in terms of organizational funds, should be issued by the unit or the relevant departments of the approval or proof.
10. Other funds that need special management and use according to regulations shall be issued with relevant laws and regulations or relevant documents of government departments.
1 1. RMB special accounts and RMB settlement fund accounts opened by qualified foreign institutional investors engaged in securities investment in China are included in the management of special deposit accounts. When opening a special RMB account, the approval document of the State Administration of Foreign Exchange shall be issued, and when opening a RMB settlement fund account, the securities investment business license of the securities management department shall be issued.
References:
Baidu encyclopedia-special deposit account