Article 1 These Measures are formulated in accordance with relevant laws and administrative regulations in order to regulate the behavior of qualified foreign institutional investors in RMB of fund management companies and securities companies to use RMB funds raised in Hong Kong to carry out domestic securities investment business pilots, promote the sustained, healthy and stable development of the securities market and protect the legitimate rights and interests of investors. Article 2 These Measures shall apply to domestic fund management companies and Hong Kong subsidiaries of securities companies (hereinafter referred to as Hong Kong subsidiaries) that raise RMB funds in Hong Kong to invest in the domestic securities market. Article 3 The investment of Hong Kong subsidiaries in the domestic securities market must be approved by the China Securities Regulatory Commission (hereinafter referred to as the China Securities Regulatory Commission) and reach the investment quota approved by the State Administration of Foreign Exchange (hereinafter referred to as the State Administration of Foreign Exchange). Article 4 The China Securities Regulatory Commission (hereinafter referred to as the China Securities Regulatory Commission) shall supervise and manage the domestic securities investment of Hong Kong subsidiaries, the People's Bank of China (hereinafter referred to as the People's Bank of China) shall manage the RMB bank accounts opened by Hong Kong subsidiaries, the State Administration of Foreign Exchange shall manage the investment quota of Hong Kong subsidiaries, and the People's Bank of China and the State Administration of Foreign Exchange shall monitor and manage the remittance of funds according to law. Article 5 When a Hong Kong subsidiary conducts a pilot domestic securities investment business, it shall entrust a domestic commercial bank with the custody qualification of qualified foreign institutional investors to take charge of the asset custody business, and entrust a domestic securities company to buy and sell securities as an agent.

Hong Kong subsidiaries may entrust domestic fund management companies and securities companies to manage domestic securities investment. Article 6 A Hong Kong subsidiary applying for a pilot domestic securities investment business of raising RMB funds in Hong Kong shall meet the following conditions:

(1) Having obtained the asset management business qualification of the Hong Kong securities regulatory authorities, having already started the asset management business, and having sound finance and good credit standing;

(2) The corporate governance and internal control are effective, and the employees meet the relevant qualification requirements in Hong Kong;

(3) The business conduct of the applicant and its domestic parent company is standardized, and it has not been severely punished by the local regulatory authorities in the last three years;

(4) The applicant's domestic parent company has the qualification of securities asset management business;

(five) other conditions stipulated by the China Securities Regulatory Commission in accordance with the principle of prudent supervision. Article 7 A Hong Kong subsidiary shall submit the following materials when applying for raising RMB funds in Hong Kong to carry out a pilot domestic securities investment business:

(1) An application report, including the reasons for the application, the basic information of the applicant, the domestic securities investment plan, etc. , and make a commitment to the authenticity, accuracy, completeness and compliance of the application materials;

(2) A copy of the institution registration certificate;

(3) A photocopy of the asset management business license issued by the Hong Kong securities regulatory agency;

(4) An explanation of whether the applicant and its domestic parent company have been punished by the local regulatory authorities in the last three years;

(five) the main personnel of the applicant meet the requirements of relevant professional qualifications in Hong Kong;

(six) the source of funds and the description of the domestic securities investment plan;

(7) An explanation of the applicant's internal control system;

(8) The audited financial report of the previous fiscal year;

(9) The draft custody agreement signed with the domestic custodian;

(10) Legal opinions;

(eleven) other documents required by the China Securities Regulatory Commission. Article 8 The China Securities Regulatory Commission shall examine the qualifications of domestic securities investment business of Hong Kong subsidiaries and make a decision of approval or disapproval within 60 days from the date of receiving complete application documents. If it decides to approve, it shall give a written reply and issue a securities investment business license; If it decides not to approve, it shall notify the applicant in writing. Article 9 A Hong Kong subsidiary qualified for domestic securities investment business shall apply to the State Administration of Foreign Exchange for an investment quota and submit the following materials:

(1) An application report, including the basic information of the applicant and its domestic parent company, a description of the source of funds, and the domestic securities investment plan, etc. ;

(two) a copy of the securities investment business license issued by the China Securities Regulatory Commission;

(3) A notarized power of attorney of the custodian;

(4) Other materials required by the foreign exchange bureau.

The State Administration of Foreign Exchange shall make a decision of approval or disapproval within 60 days from the date of receiving the complete application documents of the Hong Kong subsidiary. If it decides to approve, it shall give a written reply and issue a registration certificate; If it decides not to approve, it shall notify the applicant in writing. Article 10 When a Hong Kong subsidiary conducts a pilot domestic securities investment business, its domestic custodian shall perform the following duties:

(1) Keeping all assets entrusted by the Hong Kong subsidiary;

(2) Supervising the domestic securities investment operation of Hong Kong subsidiaries;

(3) Handling the inward and outward remittance of funds and other related businesses of Hong Kong subsidiaries;

(4) to make statistical declaration of balance of payments in accordance with regulations;

(5) Submitting relevant business reports and statements to the China Securities Regulatory Commission, the People's Bank of China and the State Administration of Foreign Exchange;

(six) other duties stipulated by the China Securities Regulatory Commission, the People's Bank of China and the State Administration of Foreign Exchange according to the principle of prudential supervision. Article 11 Hong Kong subsidiaries investing in RMB financial instruments within the approved investment quota shall meet the relevant regulatory requirements, and the types and proportions of investment shall be determined by the China Securities Regulatory Commission and the People's Bank of China.

Hong Kong subsidiaries investing in the inter-bank bond market shall be handled in accordance with the relevant regulations of the People's Bank of China.