The name, registered capital, organizational structure and responsibilities of a foreign-funded fund management company shall comply with the Company Law, the Interim Measures and the relevant provisions of the China Securities Regulatory Commission. Article 5 A foreign-funded fund management company shall comply with the Interim Measures and the requirements of the China Securities Regulatory Commission. Article 6 An overseas shareholder of a foreign-funded fund management company shall meet the following conditions:
(1) It is a financial institution established and legally existing in accordance with the laws of the country where it is located, and has not been severely punished by the securities regulatory authorities and judicial organs in the past three years;
(2) The country where it is located has a sound securities laws and regulations system, and its securities regulatory agency has signed a memorandum of understanding on securities regulatory cooperation with the China Securities Regulatory Commission, and maintained an effective regulatory cooperation relationship;
(3) The equivalent convertible currency with paid-in capital of not less than 300 million yuan;
(4) Other prudential conditions stipulated by the China Securities Regulatory Commission. Article 7 Domestic shareholders of a foreign-funded fund management company shall meet the qualifications of shareholders of a fund management company as stipulated by the China Securities Regulatory Commission. Article 8 The cumulative proportion of foreign shareholding or equity of a foreign-funded fund management company shall not exceed 33% (including direct shareholding and indirect shareholding), and shall not exceed 49% within three years after joining the WTO.
Foreign shareholders shall contribute their capital in freely convertible currencies. Article 9 The chairman, general manager and deputy general manager of a foreign-funded fund management company shall meet the qualifications of senior managers of the fund management company as stipulated by the China Securities Regulatory Commission. Article 10 Domestic and overseas applicants of foreign-funded fund management companies shall submit application materials to the China Securities Regulatory Commission in accordance with the content and format stipulated by the China Securities Regulatory Commission.
The application materials submitted by domestic and foreign applicants to the China Securities Regulatory Commission must be in Chinese. If the documents and materials issued by overseas shareholders and the securities regulatory authorities of the country where they are located are in foreign languages, they shall be accompanied by Chinese translations consistent with the original contents. Article 11 The establishment of a fund management company jointly by foreign shareholders and domestic shareholders shall go through two stages: preparation and opening. Article 12 The China Securities Regulatory Commission shall make a decision on approval or disapproval of the preparation within 60 working days from the date of officially accepting the application for preparation by domestic and foreign applicants. If the preparatory establishment is approved, an approval document shall be issued; If it is not approved, it shall notify the applicant in writing and explain the reasons. Article 13 In the case of a fund management company that has been approved by the China Securities Regulatory Commission but has not yet officially started business, the basic situation of overseas shareholders has changed significantly, or the overseas shareholders have been punished or monitored by the relevant national or regional regulatory authorities for violating regulations, and the overseas shareholders shall promptly convene a meeting of fund management company promoters to explain the relevant situation. If the overseas shareholders no longer meet the requirements of these Rules, the sponsors' meeting shall put forward opinions on handling, and the preparatory group of the company shall report to the China Securities Regulatory Commission in time to handle related matters. Article 14 Domestic and foreign applicants shall, after the establishment of a fund management company, submit the application materials for the opening of the fund management company to the China Securities Regulatory Commission.
The China Securities Regulatory Commission shall make a decision on approval, extension of approval or disapproval within 30 working days from the date of accepting the application for business opening. If the operation is approved, an approval document shall be issued; If it intends to postpone the opening of business, it shall notify the applicant in writing and explain the reasons. Article 15 Where an overseas shareholder accepts or subscribes for the equity of a domestic fund management company, the fund management company shall submit application materials to the China Securities Regulatory Commission.
The China Securities Regulatory Commission shall make a decision on approval or disapproval within 60 working days from the date of formally accepting the application. If approved, an approval document shall be issued; If it is not approved, it shall notify the applicant in writing and explain the reasons.
The China Securities Regulatory Commission shall refer to the fund management company's preparation review procedures for the review of change applications involving new shareholders and shareholders with the highest proportion of capital contribution and the largest number of nominated directors. Article 16 Where the competent authority of the place where the overseas shareholders of a fund management company participate in the registration or main business activities require the filing of overseas investments, if the overseas shareholders submit relevant filing materials to the competent authority of the place of registration or main business activities after obtaining the approval documents of the China Securities Regulatory Commission according to law, they shall also send a copy to the China Securities Regulatory Commission. Article 17 The shareholders of a foreign-funded fund management company shall, within 30 working days from the date of obtaining the approval documents of the China Securities Regulatory Commission, go through the registration of company change or establishment with the administrative department for industry and commerce. Article 18 These Rules shall apply mutatis mutandis to the participation of investors from Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan Province Province in domestic fund management companies.