Law Thinking On Our Country's QFII System

The internationalization of securities markets in the world and China's entry into WTO make it an imperative trend for the opening-up of China's securities market to be gradual wide. But the capital market is still not wide open and the securities market is imperfect in China. Under this circumstance, it is a main problem to keep the securities market steadily while it is opening. At the same time ,some developing countries and areas enact a QFII Institutions and get success. Their experiences are worth of studying and using for reference.Since our country actualized QFII system in due form in December,2002,the debate about actual QFII has not been appeased. The literature which debated the QFII system in our country could be classified as follows: remarking on the shortage and bug of the actual QFII system; introducing the experience of Taiwan Region; introducing our country's law system detailed; keeping away the financial risk since our country actualized the QFII system; the effect which the QFII system has taken on the finance controllability.This passage has taken general debate on the QFII system aimed at reference of international experience and the bug of interrelated law system. The frame of this passage is carrying through international comparer of the QFII system, evaluating the actual system and using controlling experience for reference from the angle of controlling the opening risk of securities market firstly, discussing the law system keeping away the bug of law and running risk of our country's QFII system.This passage introduces the meaning and use of the QFII system, the relation of the QFII system with securities market opening in the first chapter; In the second chapter, this passage introduces the reason of our country adopted the QFII system and the background of our QFII system came on firstly, after that compares our QFII system with the QFII system of Korea, India, Taiwan region and concludes that our country's system accords with the situation of our country. In the end introduces the controlling experience of Korea, India,Taiwan region's QFII system and puts forward five pieces of suggestions; In the third chapter this passage discusses some bug in the and analyzes the law relation of indirectly possessing the securities from other countries, suggests that we should treat the relation as entrusting estate; In the fourth chapter, the passage analyzes the risk that dual figure of foreign capital results in, the risk which trustee complots with securities company or qualified foreign institution investors that results in, the risk of trustee's exterior reckoning, and gives some suggestions that keeps away the risk.