Foreign individuals working in the Chinese mainland will be allowed to open A-shares securities trading accounts starting September 15, according to revised rules released by the country's top securities regulator on Wednesday.

Qualified foreigners should come from countries or regions where its securities regulatory body has already established a cooperation mechanism with the China Securities Regulatory Commission, reports Xinhua News Agency.

China Securities Depository and Clearing Corporation (CSDC) said that to open an A-shares securities account, applicants need to supply an application form, passport, an employment certificate by an institute in the Chinese mainland, and a copy of the institute's business license or its unified social credit code certificate.

Foreign employees of companies listed on the Chinese mainland's A-shares market who do not work in the Chinese mainland can also enjoy equity incentives from September 15.

Foreign exchange and tax rules will be amended to support the opening of the A-shares market to foreigners.

In April 2013, China opened its A-shares market to individual investors from Hong Kong, Macao, and Taiwan who work and live in the Chinese mainland. At the end of last month, 125,000 residents from Hong Kong, Macao, and Taiwan had opened A-shares securities accounts, according to an employee with the CSDC.

Related

Go to Forum >>0 Comment(s)