A number of opening-up measures have been implemented in Beijing to cover a full range of matters in the fields of financial. These measures will make it easier and simpler to invest and do business in Beijing.
However, there are some investment requirements and restrictions that you should be aware of in advance.
I. In accordance with the relevant laws and regulations, foreign financial institutions are allowed to set up foreign-funded banks. Private capital and foreign financial institutions are also allowed to jointly set up Sino-foreign joint venture banks.
II. Feasibility will be studied to permit newly established or restructured banks that are either foreign-owned or Sino-foreign joint ventures to simultaneously apply for RMB business when submitting applications for opening their business.
III. The scope of qualified domestic institutional investors will be expanded to include investment management institutions established by domestic and foreign institutions in Beijing, including domestic securities companies, fund management companies, and futures companies.
IV. Qualified institutions in Beijing will be supported in carrying out pilot projects for overseas investment by qualified domestic limited partners. Qualified institutions will be allowed to raise RMB funds from qualified investors and invest the funds on overseas markets.
V. Wholly foreign-owned enterprises will be supported to apply to become private equity fund managers and carry out equity investment and asset management business. Eligible private securities investment fund management companies may apply to change into public fund management companies.
VI. Beijing will spearhead allowing multinational companies to set up wholly foreign-owned finance companies in the municipality.
VII. More foreign banks will be supported to obtain the qualification for the custody of securities investment funds.
VIII. Eligible foreign banks will be permitted to participate in gold and silver futures trading in China.
IX. Foreign banks will be permitted to obtain the gold import license granted by the People's Bank of China and the lead underwriter qualification for the interbank bond market.
X. More foreign banks will be allowed to obtain the qualification for the custody of securities investment funds.