The so-called double landing requirement means that QFLP fund managers and QFLP funds must be registered locally. According to the Interim Measures of Hainan Province for Domestic Equity Investment of Qualified Foreign Limited Partners (QFLP), Hainan QFLP fund managers and QFLP funds must be registered locally. In other words, Hainan QFLP implements double landing requirements.

Custody and utilization of foreign exchange funds

According to the Interim Measures of Hainan Province for Carrying out Domestic Equity Investment of Qualified Foreign Limited Partners, qualified foreign limited partner funds in Hainan Province must be managed. The requirements for the custodian bank are: approved by the the State Council Banking Regulatory Authority, with the ability and qualification of fund custody, with branches in Hainan Province, banking financial institutions above the second-tier branch level (including the second-tier branch) or securities companies with the ability and qualification of fund custody.

The Interim Measures of Hainan Province on Carrying out Domestic Equity Investment of Qualified Foreign Limited Partners does not stipulate how to use capital.