On November 14, 2019 the State Administration of Foreign Exchange (SAFE) issued the Consultation Paper of the Circular on Improving the Management of Foreign Exchange Risks Regarding Foreign Institutional Investors Trading in the Interbank Bond Market (“Consultation Paper”) to solicit public comments. 

This article intends to introduce the main content of the Guidelines and the regulatory spirit reflected therefrom, briefly analyzing the impact of the full tradability of the H-shares on the Chinese capital market. 

Below we analyse recently introduced policies of relevance to global asset managers’ market access, cross-border transactions and services, and discuss some of the opportunities and challenges for global asset managers in China.