事关增量外资入市，QFII制度“优化11条”启动

Core Viewpoint - The optimization of the Qualified Foreign Institutional Investor (QFII) system is injecting new vitality into the internationalization of the A-share market, with a focus on enhancing the efficiency and convenience of foreign investment processes [1][6]. Summary by Sections Optimization Measures - The new QFII optimization plan includes at least 11 innovative measures aimed at streamlining the approval and account opening processes for foreign investors [1]. - Key measures include the integration of qualification approval, license issuance, foreign exchange registration, and account opening into a single efficient process [1][7]. - A "green channel" and simplified procedures will be implemented for sovereign funds, international organizations, and pension funds to facilitate foreign investment [2][9]. Efficiency Improvements - The plan aims to compress the time required for fund transfers, account confirmations, and other operational processes, enhancing the efficiency of intermediary institutions [2][8]. - A commitment to a five-working-day processing time for QFII qualification approval has been established, reducing the previous timeframe of ten working days [8][11]. Market Impact - The QFII system has evolved from quota control to autonomous investment, creating a diverse investment framework covering stocks, bonds, and derivatives [4][12]. - As of August 2025, 907 foreign institutions had obtained QFII qualifications, with total domestic assets exceeding 1 trillion yuan, marking a significant source of incremental capital for the market [4]. Attraction of Long-term Capital - The new measures are expected to attract more high-quality long-term foreign capital, particularly from funds with stable investment characteristics [9][11]. - The diversification of QFII investment preferences is evident, with a focus on sectors such as biomedicine, electronics, and high-end equipment manufacturing [9]. Future Outlook - The continuous improvement of the QFII system reflects China's commitment to high-level opening-up of its capital markets, enhancing international participation [12]. - Major foreign institutions have expressed positive outlooks on the Chinese stock market, predicting significant growth in key indices by 2027 [12].