tion and payment of foreign exchange as well as the Renminbi settlement business for the QDII;
3. Keeping the related materials concerning outward remittance, inward remittance, conversion of capital, the collection and payment of foreign exchange, capital flows, authorization and transaction records of the QDII for no less than 20 years; and
4. Other responsibilities as prescribed by the CSRC or the SAFE according to the principle of prudent surveillance.
第二十三条 托管人、境外托管人应当将其自有资产和境内机构投资者管理的财产严格分开。
Article 23 A custodian or a custodian outside the territory of China shall severely separate its own assets from the assets under the management of the QDII.

第五章　资金募集、投资运作、信息披露
Chapter V Capital Raising, Investment Operation and Information Disclosure
第二十四条 取得境内机构投资者资格的基金管理公司可以根据有关法律法规通过公开发售基金份额募集基金，运用基金财产投资于境外证券市场。基金管理公司申请募集基金，应当根据有关法律法规规定提交申请材料。
Article 24 A fund management company that has obtained the QDII qualification may raise the capital by publicly selling fund units in accordance with related laws and regulations, and invest fund assets in the securities market outside the territory of China. Where a fund management company applies for raising a fund, it shall submit the application materials in accordance with related laws and regulations.
第二十五条 取得境内机构投资者资格的证券公司可以通过设立集合计划等方式募集资金，运用所募集的资金投资于境外证券市场。设立集合计划的，应当按照有关规定提交申请材料，进行资金募集和投资运作。
Article 25 A securities company that has obtained the QDII qualification may raise the capital by establishing a pool plan, etc., and invest the capital it raised in the securities market outside the territory of China. In the case of the establishment of a pool plan, a securities company shall submit the application materials, raise the capital and make the investment in accordance with related provisions.
第二十六条 申请募集的基金应当根据有关规定选择投资业绩比较基准。
Article 26 Related benchmarks for the comparison of investment performance shall be selected for a fund for which a raising application is filed as required.
第二十七条 基金、集合计划应当投资于中国证监会规定的金融产品或工具。
Article 27 A fund or pool plan shall be used to invest in the financial products or tools as prescribed by the CSRC.
第二十八条 基金、集合计划应当遵守有关投资比例限制的规定。
Article 28 A fund or pool plan shall follow the provisions on the proportion of investment.
第二十九条 境内机构投资者、投资顾问挑选、委托境外证券服务机构代理买卖证券的，应当严格履行受信责任，并按照有关规定对投资交易的流程、信息披露、记录保存进行管理。
Article 29 Where a QDII or investment consultant selects or entrusts a securities service institution outside the territory of China for buying and selling securities, it shall severely perform the fiduciary responsibility, and manage the procedures of investment transactions, the information disclosure and the records keeping in accordance with related provisions.
第三十条 境内机构投资者、投资顾问与境外证券服务机构之间的证券交易和研究服务安排，应当按照以下原则进行：
（一） 交易佣金属于基金、集合计划持有人的财产；
（二） 境内机构投资者、投资顾问有责任代表持有人确保交易质量，包括但不限于：
1． 寻求最佳交易执行；
2． 力求交易成本最小化；
3． 使用持有人的交易佣金使持有人受益。
Article 30 Where a QDII, an investment consultant carries out the securities trading and the research service arrangement with a securities service institution outside the territory of China, it shall observe the principles as follows:
1. The trading commissions shall be the property of the holders of a fund or pool plan; and
2. The QDII and the investment consultant has the responsibility of ensuring the trading quality on behalf of holders, and such responsibilities shall include, but not limited to:
(a) seeking for the best implementation of trading;
(b) seeking the minimized trading costs; and
(c) using the trading commissions of holders for the benefits thereof.
第三十一条 境内机构投资者的境外证券投资，应当遵守当地监管机构、交易所的有关法律法规规定。
Article 31 Where a QDII carries out the securities investment outside the territory of China, it shall follow the related laws and regulations as prescribed by the local surveillant organ and the local stock exchange.
第三十二条 境内机构投资者、托管人等信息披露义务人应当严格按照有关法律法规规定的要求进行信息披露。
Article 32 Such people with the obligation to make information disclosure as the QDII, and the custodian shall reveal the information in strict accordance with related laws and regulations.

第六章　额度和资金管理
Chapter VI Quota and Capital Management
第三十三条 境内机构投资者应当根据市场情况、产品特性等在募集方案中设定合理的额度规模上限，向国家外汇局备案，并按照有关规定到国家外汇局办理相关手续。基金、集合计划存续期内的额度规模管理应当按照有关规定进行。
Article 33 A QDII shall set reasonable upper limits of the quota and the scale in the raising plan in light of the market conditions and the characteristics of the product, report them to the SAFE for archival purpose, and shall handle related procedures at the SAFE in accordance with related provisions. The administration on quota or scale within the extension of a fund or pool plan shall be performed in accordance with related provisions.
第三十四条 境内机构投资者应当在托管人处开立托管账户，托管基金、集合计划的全部资产。
Article 34 A QDII shall open a custody account at the custodian for the custody of all the assets of a fund or pool plan.
第三十五条 托管人应当为基金、集合计划开立结算账户和证券托管账户，用于与证券登记结算等机构之间的资金结算业务和证券托管业务。
Article 35 A custodian shall open a settlement account and a securities custody account for a fund or pool plan, which shall be used for the capital settlement business and the securities custody business with the securities depository and clearing institution, etc.
第三十六条 托管账户、结算账户和证券托管账户的收入、支出范围应当符合有关规定，账户内的资金不得向他人贷款或提供担保。
Article 36 As for the incomes and expenses of a custody account, settlement account or securities custody account, it shall be consistent with related provisions, and the capital in such accounts shall not be lent to anyone else or be used for security purposes.
第三十七条 境内机构投资者应当定期向国家外汇局报告其额度使用及资金汇出入情况。
Article 37 A QDII shall report to the SAFE the use of its quota as well as the outward and inward remittance of capital in a regular manner.

第七章　监督管理
Chapter VII Surveillance and Administration
第三十八条 中国证监会和国家外汇局可以要求境内机构投资者、托管人提供境内机构投资者境外投资活动有关资料；必要时，可以进行现场检查。
Article 38 The CSRC and the SAFE may request the QDII and the custodian to submit the related materials relating to the overseas investment activities of QDIIs; and may perform spot inspections if necessary.
第三十九条 境内机构投资者有下列情形之一的，应当在其发生后5个工作日内报中国证监会备案并公告：
（一） 变更托管人或境外托管人；
（二） 变更投资顾问；
（三） 境外涉及诉讼及其他重大事件；
（四） 中国证监会规定的其他情形。

托管人或境外托管人发生变更的，境内机构投资者应当同时报国家外汇局备案。
Article 39 In case of any of the following circumstances occurs to a QDII, it shall give a report to the CSRC for archival purpose and make an announcement within 5 workdays as of the occurrence of such a circumstance:
1. alteration of the custodian or custodian outside the territory of China;
2. alteration of the investment consultant;
3. involving in a lawsuit or any other major event outside the territory of China; or
4. any other circumstance as prescribed by the CSRC.
If there is any alteration in the custodian or custodian outside the territory of China, a QDII shall also make a report to the SAFE for archival purpose.
第四十条 境内机构投资者有下列情形之一的，应当在其发生后60个工作日内重新申请境外证券投资业务资格，并向国家外汇局重新办理经营外汇业务资格申请、投资额度备案手续：
（一） 变更机构名称；
（二） 被其他机构吸收合并；
（三） 中国证监会、国家外汇局规定的其他情形。
Article 40 In the case of any of the following circumstances occurs to a QDII, it shall apply for the qualification of securities investment business outside the territory of China again within 60 workdays as of the occurrence of such a circumstance, and apply to the SAFE for the foreign exchange business qualification again and handle the procedure for archival purpose of the investment quota:
1. alteration of its name;
2. takeover by any other institution; or
3. any other circumstance as prescribed by the CSRC or the SAFE.
第四十一条 境内机构投资者运用基金、集合计划财产进行证券投资，发生重大违法、违规行为的，中国证监会可以依法采取限制交易行为等措施，国家外汇局可以依法采取限制其资金汇出入等措施。
Article 41 Where a QDII makes the securities investment by using the property of a fund or pool plan, if any major illegal or irregular act is committed, the CSRC may adopt the measure of restricting its trading, and the SAFE may adopt the measure of restricting its outward remittance and inward remittance of capital, etc in accordance with related laws.
第四十二条 托管人违法、违规严重的，中国证监会可以依法做出限制其托管业务的决定。
Article 42 In the case of any serious illegal or irregular act committed by a custodian, the CSRC may render a decision of restricting its custody business.
第四十三条 境内机构投资者、托管人等违反本办法的，由中国证监会、国家外汇局依法进行相应的行政处罚。
Article 43 In the case of any violation of the present Measures by a QDII or custodian, it may be imposed on administrative sanction accordingly by the CSRC or the SAFE.

第八章　附则
Chapter VIII Supplementary Rules
第四十四条 境内机构投资者投资于香港特别行