中国OFII制度前景探究——基于台湾、韩国和印度的经验借鉴

Prospect of QFII system in China --Experience from Taiwan, Korea and India

随着境内股市的低迷以及ROFII、沪港通和银行间债券市场等替代通道的相继开放，中国OFII制度面临新挑战。2016年颁布的QFII新规开始了新一轮的QFII制度改革，实现了对以往台湾等地区实施QFII制度的突破。文章在系统分析和借鉴台湾地区、韩国和印度实施QFII制度经验的基础上，剖析此次我国QFII制度改革的主要特点，并就我国未来QFII制度发展提供政策建议。

Following the downturn in domestic stock market and the availability of alternatives such as RQFII, Shanghai- Hong Kong Stock Connect and interbank bond market, the QFII system in China is facing new challenges. The new QFII rules issued in 2016 has started a new round of QFII system reform, and achieved a breakthrough in QFII system implementation in Taiwan and other places. The article gives a systematic analysis and makes reference to the experience of Taiwan region, Korea and India in QFII implementation, outlines the major features of QFII reform in China and provides policy suggestions on future QFII system development in China.