The head of the Department of Finance of the Ministry of Commerce said that with regard to application admission, applications for Qualified Foreign Institutional Investors (QFII) and RMB Qualified Foreign Institutional Investors (RQFII) qualifications will be efficiently reviewed and approved in accordance with the law to better meet the wishes of overseas institutions to enter the domestic market. Regarding foreign exchange management, on the basis of implementing measures to facilitate overseas institutions' investment in the Chinese bond market and expand capital project facilitation policies, etc., it will continue to improve foreign exchange management under direct investment, facilitate overseas institutions to better carry out domestic equity investments, support overseas institutions to invest in domestic technology-based enterprises through qualified overseas limited partners (QFLP); and support technology-based enterprises to make full use of centralized cross-border capital operation management policies such as local and foreign currency integrated capital pools, etc., to improve capital operation efficiency and reduce financial costs. Regarding management supervision, it is clear that the establishment of venture capital funds by overseas institutions within the country is treated the same as domestic-funded venture capital funds, and the relevant policies proposed in the “Regulations on the Supervision and Administration of Private Equity Funds” are applied in the same way. (Ministry of Commerce)