Types of QFIIs

2002-2006

2006-2012

2012

Qualification

Asset management

Over 5 years AUM over US$ 10 billion

Over 5 years AUM over US$ 5 billion

Over 2 years AUM over US$ 500 million

 institutions

Insurance companies

Over 30 years AUM over US$ 10 billion 

Over 5 years AUM over US$ 5 billion

Over 2 years AUM over US$ 500 million

Securities companies

Over 30 years  AUM over US$ 10 billion Paid-in Capital  over 1 billion

Over 30 years  AUM over US$ 10 billion Paid-in Capital  over 1 billion

Over 5 years AUM over US$ 5 billion Net asset over 500 million

Commercial banks

Total Capital ranks top 100 AUM over US$ 10 billion

Total Capital ranks top 100 AUM over US$ 10 billion

Over 10 years Tier 1 Capital over 300 million AUM over US$ 5 billion

Other institutions

Not specified 

Not specified

Over 2 years  AUM over US$ 500 million

Application

Written application via custodian banks 

Written application via custodian banks 

Online application + paper  materials  submission

Ceiling of Quota

US$ 800 million

US$ 1 billion 

US$ 1 billion*

Principal Lock-up

Open-ended

Not specified

3 months 

3 months 

 fund

Remittance of Profit

Pension, sovereign wealth

Not specified

3 months 

3 months 

 funds

Other QFIIs

Not specified

1 year

1 year

Open-ended Fund 

Not applicable

Monthly remittance  after 3 months 

Monthly remittance  after 3 months

Apply for More Quota

Other QFIIs

individual application per remittance after 1 year 

individual application per remittance

individual application  per remittance

Not specified

Applicable after 1 year 

Applicable after 1 year

Securities Account

1 

1 self-owned, 1 for clients? fund, multiple 

1 self-owned, multiple

 accounts for clients' fund 

accounts for open-ended funds 

and open-ended funds

Broker

1

1 for Shenzhen 1 for Shanghai

3 for Shenzhen 3 for Shanghai

Investment Scope

Exchange-traded stocks  and bonds

+warrant, participation in new shares issuance, additional issuance and purchase of allotted shares

+stock index futures, inter-bank fixed income products and securities investment funds

Limitation of Investment

<20% for QFII shareholding in total, <10% for single QFII shareholding; in accordance with Catalogue for the Guidance of Foreign Investment Industries

<20% for QFII shareholding in total, <10% for single QFII shareholding

<30% for QFII shareholding in total, <10% for single QFII shareholding