QFII is the abbreviation of "qualified foreign institutional investors", that is, the abbreviation of "qualified foreign institutional investors". QFII 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.

this system requires that foreign investors who want to enter a country's securities market must meet certain conditions, remit a certain amount of foreign exchange funds after being approved by the relevant departments of the country, convert them into local currency, and invest in the local securities market through a strictly supervised special account.

"QFII special deposit account" is also a special account opened by overseas qualified investment institutions to invest in China's domestic stock market. This account can buy and sell stocks, etc., but cannot access cash.

extended information

application documents

When a depositor applies for opening a special deposit account, he shall present to the People's Bank of China the certificate for opening an account in basic account, the permit for opening an account in basic account and the following documents: (Only one special deposit account can be opened with the same certificate)

1. Capital construction funds, renovation funds and policy real estate development funds shall be approved by the competent authorities.

2. For extra-budgetary funds, a certificate from the financial department shall be issued.

3. The approval of the competent department shall be issued for purchasing funds for grain, cotton and oil.

4. The company's bank card reserve fund shall issue relevant certificates and materials in accordance with the regulations of the bank card approved by the People's Bank of China.

5. The certificate of the securities company or the securities management department shall be issued for the settlement funds of securities transactions.

6. The certificate of the futures company or futures management department shall be issued for the futures trading margin.

7. Financial institutions shall issue their certificates when depositing interbank funds.

8. For income remittance funds and business expenditure funds, relevant certificates from depositors in basic account shall be issued.

9, the party, league, trade union in the organization funds, should be issued by the unit or the relevant departments of approval or proof.

1. For other funds that need special management and use according to regulations, relevant laws and regulations or relevant documents of government departments shall be issued.

11. The 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 RMB special accounts, they should issue the approval documents of the State Administration of Foreign Exchange, and when opening RMB settlement fund accounts, they should issue the license of securities investment business of the securities management department.

References:

Baidu Encyclopedia-Special Deposit Account