《海南QDLP暂行办法》中英对照版

海南省开展合格境内有限合伙人（QDLP）境外投资试点工作暂行办法

Interim Measures of Hainan Province for the Pilot Program of Overseas Investment by Qualified Domestic Limited Partners (QDLP)

第一章 总则

Chapter I General Provisions

第一条             为积极推进海南自由贸易港建设，促进金融业对外开放，规范开展合格境内有限合伙人境外投资试点工作，根据有关法律、法规，制定本暂行办法。

Article 1                     These Interim Measures (the “Measures”) are formulated pursuant to the relevant laws and regulations in order to actively promote the development of the Hainan Free Trade Port, enhance the opening up of the financial industry, and standardize the launch of the pilot program of overseas investment by qualified domestic limited partners.

第二条             本办法所称的合格境内有限合伙人，是指符合本办法第四章规定的条件，以自有资金认购本办法规定的试点基金的境内自然人、机构投资者或本办法规定的其他投资者。

Article 2                     For the purpose of the Measures, qualified domestic limited partners refer to domestic natural persons, institutional investors or other investors as prescribed in the Measures who meet the conditions specified in Chapter IV of the Measures and subscribe with their own funds for the pilot funds mentioned in the Measures.

本办法所称的试点基金管理企业是指经试点相关单位共同认定、注册在海南省并实际经营的，以发起设立试点基金并受托管理其境外投资业务为主要经营业务的企业，且符合本办法第二章规定。

The pilot fund management enterprises as prescribed in the Measures refer to enterprises that are determined by the authorities related to the pilot program, are incorporated and actually operate in Hainan Province, carry on their principal business as launching pilot funds and managing the overseas investment of the pilot funds upon entrustment, and conform to the provisions of Chapter II of the Measures.

本办法所称的试点基金是指由试点基金管理企业依法在海南省发起、以合格境内有限合伙人参与投资设立的、以基金财产按照本办法规定进行境外投资，且符合本办法第三章规定的基金。

The pilot funds refer to the funds that are launched by pilot fund management enterprises in Hainan Province, are established with the investment by qualified domestic limited partners, conduct overseas investment with fund assets according to the provisions of the Measures, and conform to the provisions of Chapter III of the Measures.

第三条             试点基金管理企业发起设立试点基金，运用试点基金的基金财产对外投资，应符合相关法律、法规和本办法的规定，维护投资者的合法权益。

Article 3                     The pilot fund management enterprises shall comply with the relevant laws, regulations and the Measures and safeguard the legitimate rights and interests of investors in launching pilot funds and conducting overseas investment with fund assets of the pilot funds.

第四条             本试点工作在省政府直接领导下，省金融监管部门牵头，相关单位根据职责共同参与。试点相关单位包括但不限于省金融监管部门、外汇管理部门、省市场监管部门、证券监管部门等。省金融监管部门承担试点工作日常事务，负责试点申请资料及其他相关文件的受理，组织试点相关单位审核申请材料，为企业批复试点资格并授予试点额度；外汇管理部门负责本办法所涉跨境资金管理事宜；省市场监管部门负责试点基金管理企业及试点基金的登记注册工作；证券监管部门负责对试点基金管理企业和试点基金的登记备案工作进行指导，并对通过中国证券投资基金业协会登记备案的试点基金管理企业和试点基金业务活动进行监督管理；省发改部门和省商务部门负责对试点基金的投资标的与投资区域是否为敏感类进行指导；其他相关单位根据实际需要配合做好相关工作。

Article 4                     The pilot program is under direct leadership of the provincial government, led by the provincial administration for financial regulation, with the joint participation of relevant authorities according to their duties. The authorities related to the pilot program include but are not limited to the provincial administration for financial regulation, the foreign exchange administration, the provincial administration for market regulation, the securities regulatory authority, etc. The provincial administration for financial regulation undertakes the day-to-day affairs of the pilot program and is responsible for accepting the pilot application materials and other relevant documents, organizing the authorities related to the pilot program to review the application materials, approving the pilot qualification of enterprises and granting pilot quota; the foreign exchange administration is responsible for cross-border funds management matters involved in the Measures; the provincial administration for market regulation is responsible for the registration of pilot fund management enterprises and pilot funds; the securities regulatory authority is responsible for providing guidance on the registration and filing of pilot fund management enterprises and pilot funds and supervising and administering the activities of pilot fund management enterprises and pilot funds registered and filed with the Asset Management Association of China (the “AMAC”); the provincial development and reform commission and the provincial commission of commerce are responsible for providing guidance on whether investment targets and investment geographic areas of the pilot funds fall under the sensitive category; other related authorities shall provide cooperation to properly handle relevant affairs in light of the actual situation.

第五条             试点工作在国家有关部门指导下开展，首批试点企业名单由省政府牵头认定，后续的试点企业名单由省金融监管部门组织外汇管理部门、省市场监管部门和证券监管部门通过会议认定。

Article 5                     The pilot program is implemented under the guidance of relevant state departments. The list of first batch of the pilot fund management enterprises shall be determined by the provincial government, and the provincial administration for financial regulation shall coordinate with the foreign exchange administration, the provincial administration for market regulation and the securities regulatory authority to hold meetings to determine the list of subsequent pilot fund management enterprises.

第六条             省金融监管部门应会同试点相关单位共同制定和落实各项政策措施，推进试点工作，协调解决试点过程中的有关问题。

Article 6                     The provincial administration for financial regulation, together with the authorities related to the pilot program, shall jointly formulate and implement the policies and measures, promote the pilot program, and coordinate to solve relevant issues in the course of the pilot program.

第二章 试点基金管理企业

Chapter II Pilot Fund Management Enterprises

第七条             本办法规定的试点基金管理企业包括内资试点基金管理企业和外商投资试点基金管理企业。外商投资试点基金管理企业，是指按照本办法规定由境外自然人或机构等参与投资设立的试点基金管理企业。

Article 7                     The pilot fund management enterprises prescribed in the Measures include domestic-funded pilot fund management enterprises and foreign-invested pilot fund management enterprises. Foreign-invested pilot fund management enterprises refer to the pilot fund management enterprises established with the investment by foreign natural person or institutions.

第八条             试点基金管理企业可从事如下业务：

Article 8                     Pilot fund management enterprises may engage in the following business:

（一）      发起设立试点基金；

Launching pilot funds;

（二）      受托管理试点基金的投资业务并提供相关服务；

Managing the investment of pilot funds upon entrustment and providing relevant services;

（三）      依法开展投资咨询业务。

Carrying out investment advisory business according to the law.

第九条             试点基金管理企业可以采用公司制、合伙制等组织形式。

Article 9                     A pilot fund management enterprise may be established in the form of corporation, partnership, etc.

第十条             试点基金管理企业应符合下列条件：

Article 10                 A pilot fund management enterprise shall meet the following qualification conditions:

（一）      试点基金管理企业的注册资本应不低于人民币500万元或等值外币，出资方式仅限于货币，出资应按照公司章程/合伙协议的约定或在取得试点资格之日起2年内（以孰早者为准）全部缴足；

The registered capital shall not be less than RMB5 million or the equivalent amount in a foreign currency. The capital contribution can only be made in the form of cash, and the capital contribution shall be paid in full as stipulated in the articles of association /partnership agreement or within two years from the date of obtaining the pilot qualification, whichever is earlier;

（二）      具备至少1名5年以上以及2名3年以上境外投资管理经验和相关专业资质的主要投资管理人员；主要投资管理人员在最近5年内无违规记录或尚在处理的经济纠纷诉讼案件；

The pilot fund management enterprise shall have at least one key investment management personnel with more than five years of overseas investment management experience and relevant professional qualification and at least another two key investment management personnel each with more than three years of overseas investment management experience and relevant professional qualification; key investment management personnel shall have no record of violation against laws and regulations in the recent five years or be involved in any pending economic dispute litigation;

（三）      试点基金管理企业的控股股东、实际控制人或执行事务合伙人中任一主体或上述任一主体的关联实体应具备下列条件：经所在地监管机构批准从事投资管理业务或资产管理业务,具备所在地监管机构颁发的许可证件的金融企业，或具有良好投资业绩且管理基金规模不低于1亿元人民币（或等值外币）的基金管理企业；

Any of the controlling shareholder, actual controller or executive partner of the pilot fund management enterprise or a related party of any of the aforesaid entities shall meet the following conditions: obtaining the approval from the regulator in the place where it domiciles to engage in investment management business or asset management business, or being a financial enterprise with the license issued by the regulator in the place where it locates, or being a fund management enterprise with good track records and having the fund assets under its management of no less than RMB100 million (or the equivalent amount in a foreign currency);

（四）      试点基金管理企业的控股股东、实际控制人或执行事务合伙人中任一主体或上述任一主体的关联实体满足净资产应不低于1000万元人民币或等值外币，资产质量良好，在境内外资产管理行业从业3年以上，且具有规范的内部治理结构和健全的内部控制制度，最近1年未受所在地监管机构的重大处罚，无重大事项正在接受司法部门、监管机构的立案调查；

Any of the controlling shareholder, actual controller or executive partner of the pilot fund management enterprise or a related party of any of the aforesaid entities shall have net assets of no less than RMB10 million or the equivalent amount in a foreign currency, have good asset quality, have been practicing in domestic and foreign asset management industry for more than three years, have normative internal governance structure and sound internal control system, have not been subject to major punishment by the regulatory authority in the place where it domiciles in the recent one year, and not currently be under investigation by any judicial organ or regulatory authority for any major matter;

（五）      存续经营的境内试点基金管理企业，应已在中国证券投资基金业协会登记为私募基金管理人，且已在中国证券投资基金业协会完成至少一只私募基金的备案；

The domestic pilot fund management enterprise which is existing for operation shall have been registered as a private fund manager with the AMAC and have completed the filing of at least one private fund with the AMAC;

（六）      按审慎性原则要求的其他条件。

Other required conditions based on the principle of prudence.

第三章 试点基金

Chapter III Pilot Funds

第十一条         试点基金可以采用公司型、合伙型或契约型等形式。

Article 11                 A pilot fund may take the form of corporation, partnership, contractual structure, etc.

第十二条         试点基金应满足下列条件：

Article 12                 A pilot fund shall meet the following conditions:

（一）      认缴出资金额/初始募集规模应不低于人民币3000万元（或等值外币），出资方式仅限于货币形式；

The initial subscription amount/initial fundraising scale shall be no less than RMB30 million (or the equivalent amount in a foreign currency), which can only be contributed in cash;

（二）  试点基金的投资者应符合本办法第四章规定，且投资者人数符合法律法规相关规定。

The investors of the pilot fund shall comply with the provisions of Chapter IV of the Measures, and the number of investors shall comply with relevant provisions of laws and regulations.

第十三条         试点基金境外投资应按境外投资相关法律、法规及规范性文件的规定办理，如需履行境外投资备案或核准手续的，应按照相关法律法规的规定办理。试点基金可以基金财产开展如下投资业务：

Article 13                 The overseas investment of pilot funds shall comply with laws, regulations and normative documents related to overseas investment. Where the overseas investment requires filing or pre-approval procedure, such procedure shall be handled according to relevant laws and regulations. A pilot fund may make the following investments with the fund assets:

（一）      境外非上市企业的股权和债券；

Equity interest of and bonds issued by overseas non-listed enterprises;

（二）      境外上市企业非公开发行和交易的股票和债券；

Stocks and bonds of overseas listed enterprises that are not publicly issued and traded;

（三）      境外证券市场（包括境外证券市场交易的金融工具等）；

Overseas securities market (including financial instrument traded in overseas securities markets, etc.);

（四）      境外股权投资基金和证券投资基金；

Overseas private equity investment funds and overseas securities investment funds;

（五）      境外大宗商品、金融衍生品；

Overseas commodities, financial derivatives;

（六）      经国家有关部门批准的其他领域。

Other areas approved by relevant state departments.

第四章 合格境内有限合伙人适当性管理

Chapter IV Suitability Management of Qualified Domestic Limited Partners

第十四条         试点基金的合格境内有限合伙人是指具备相应风险识别能力和风险承担能力，投资于单只试点基金的金额不低于100万元人民币或等值外币的境内自然人、机构投资者或本办法规定的其他投资者，且符合以下标准：

Article 14                 Qualified domestic limited partners of a pilot fund refers to the domestic natural persons, institutional investors or other investors prescribed in the Measures who have corresponding risk identification and risk tolerance capability, each invest no less than RMB1 million or the equivalent amount in a foreign currency in a single pilot fund, and meet the following criteria:

（一）      净资产不低于1000万元人民币的法人单位；

Being a legal person entity with net assets of no less than RMB10 million;

（二）      金融资产不低于300万元或者最近三年个人年均收入不低于50万元的个人。

Being an individual having financial assets of no less than RMB3 million or average annual income of no less than RMB500,000 for the last three years.

前款所称金融资产包括银行存款、股票、债券、基金份额、资产管理计划、银行理财产品、信托计划、保险产品、期货权益等。

The financial assets referred to in the preceding paragraph include bank deposits, stocks, bonds, fund units, asset management schemes, bank wealth management products, trust schemes, insurance products, futures interest, etc.

第十五条         下列投资者可视为合格境内有限合伙人：

Article 15                 The following investors can be deemed as qualified domestic limited partners:

（一）      社会保障基金、企业年金等养老基金，慈善基金等社会公益基金；

(1)               Pension funds such as social security fund, enterprise annuities, and social welfare funds such as charity funds;

（二）      依法备案的资产管理产品；

(2)               Asset management products having been filed according to the law;

（三）      投资于所管理基金的基金管理人及其从业人员；

(3)               The fund manager and its practitioners who invest in the funds managed by such fund manager;

（四）      中国证券监督管理委员会规定的其他投资者。

(4)               Other investors prescribed by China Securities Regulatory Commission.

以合伙企业、契约等形式，通过汇集投资者资金直接或者间接投资于试点基金的，试点基金管理企业应当穿透核查最终投资者是否为合格境内有限合伙人，并合并计算投资者人数。但是，符合本条第（一）（二）（四）项规定的投资者投资试点基金的，不再穿透核查最终投资者是否为合格境内有限合伙人和合并计算投资者人数。合格境内有限合伙人应当确保投资资金来源合法，不得非法汇集他人资金投资试点基金。

If an investor in the form of partnership or contractual structure directly or indirectly invests in a pilot fund by pooling investors’ funds, the pilot fund management enterprise shall look through such investor to verify whether the ultimate investors are qualified domestic limited partners, and calculate the number of investors on an aggregate basis. However, where an investor complying with the provisions under item (1), (2) or (4) of this Article invest in the pilot fund, it is neither required to look through such investor to verify whether the ultimate investors are qualified domestic limited partners nor to calculate the number of investors on an aggregate basis. Qualified domestic limited partners shall ensure that the source of funds is lawful and shall not illegally pool the funds of others to invest in the pilot fund.

第十六条         试点基金管理企业应当切实履行合格境内有限合伙人适当性管理职责，了解客户的身份、财产与收入状况、投资经验、风险偏好、投资目标等相关信息，有针对性地进行风险揭示、客户培训、投资者教育等工作，引导客户在充分了解境外投资市场特性的基础上参与境外投资。

Article 16                 A pilot fund management enterprise shall effectively perform the suitability management obligations towards qualified domestic limited partner by knowing the clients’ identity, property and income, investment experience, risk appetite, investment objective and other relevant information, conducting targeted risk disclosure, client training, investor education, etc., and guiding the clients to be exposed overseas investment based on full knowledge of the features of overseas investment market.

试点基金管理企业应当建立健全合格境内有限合伙人适当性管理的具体业务制度和操作指引，并通过多种形式和渠道向客户告知适当性管理的具体要求，做好解释和宣传工作。

A pilot fund management enterprise shall establish sound detailed business rules and operation guidelines on suitability management over qualified domestic limited partners, inform the clients of the detailed requirements of suitability management in various forms and through various channels, and properly conduct explanation and propaganda work.

试点基金管理企业应当妥善保管客户适当性管理的全部记录，并依法对客户信息承担保密义务；应当指定专人受理客户投诉，妥善处理与客户的矛盾与纠纷，认真记录有关情况，并将客户投诉及处理情况向省金融监管部门报告。

A pilot fund management enterprise shall properly retain all the records of client suitability management and undertake confidentiality obligations on clients’ information according to the law; shall designate the dedicated personnel to accept the clients’ complaints, properly handle the conflicts and disputes with the clients, carefully record relevant cases, and report the clients’ complaints and the disposal thereof to the provincial administration for financial regulation.

第十七条         试点基金管理企业和试点基金不得向合格境内有限合伙人承诺保本保收益。合格境内有限合伙人应签署风险揭示书。试点基金管理企业和试点基金应当向合格投资者募集，合格投资者累计不得超过法定人数；不得向合格投资者之外的单位和个人募集资金，不得向不特定对象宣传推介。

Article 17                 Pilot fund management enterprises and pilot funds shall not promise to qualified domestic limited partners that they will not lose the principal or that the minimum proceeds are guaranteed. Qualified domestic limited partners shall execute the risk disclosure letter. Pilot fund management enterprises and pilot funds shall raise funds from qualified investors, and the total number of qualified investors shall not exceed the statutorily prescribed number; shall not raise funds from entities and individuals other than qualified investors and shall not conduct marketing and promotion towards non-specific targets.

第五章 设立流程

Chapter V Procedure of Establishment

第十八条         省金融监管部门收取首批试点基金管理企业及试点基金的全部申请材料，组织外汇管理、省市场监管、证券监管、发改和商务等部门共同审核，对其专业程度、私募投资履历、海外投资策略和拟投资项目的实际需要等进行综合评估，提出首批试点企业名单及首次试点额度建议。省金融监管部门将首批试点企业名单及首次试点额度建议报省政府同意后，向申请人出具同意开展首批试点、给予试点额度的书面意见。

Article 18                 The provincial administration for financial regulation accepts all application materials of the first batch of pilot fund management enterprises and pilot funds, organizes the foreign exchange administration, the provincial administration for market regulation, the securities regulatory authority, the provisional development and reform commission, the provisional commission of commerce to jointly review and comprehensively evaluate the application based on the expertise, private investment experience, overseas investment strategies, the actual needs of the proposed investments, etc. of the applicant, and put forward the proposed list of the first batch of pilot fund management enterprises and the suggestions on their initial pilot quota. The provincial administration for financial regulation shall issue the written opinion of granting the pilot qualification and pilot quota to the first batch of applicants after the provincial government gives consent to the list of the first batch of pilot fund management enterprises and their initial pilot quota it puts forward to the provincial government.

非首批试点基金管理企业或非首次试点额度的申请，省金融监管部门收取全部申请材料，组织外汇管理、省市场监管、证券监管、发改和商务等部门共同审核，根据其专业程度、私募投资履历、海外投资策略和拟投资项目的实际需要等决定是否给予试点资格和额度，由省金融监管部门向申请人出具同意开展试点、给予试点额度的书面意见。

For the applications for the subsequent batches of pilot fund management enterprises or the applications for additional pilot quota, the provincial administration for financial regulation accepts all application materials, organizes the foreign exchange administration, the provincial administration for market regulation, the securities regulatory authority, the provisional development and reform commission, the provisional commission of commerce to jointly review the application materials to decide whether to grant pilot qualification and quota based on the expertise, private investment experience, overseas investment strategies, the actual needs of the proposed investments, etc. of the applicants. The provincial administration for financial regulation then issues the written opinion of granting the pilot qualification and pilot quota to the applicants.

第十九条         申请成为试点基金管理企业，申请人应提交下列材料：

Article 19                 An applicant shall submit the following materials when applying for being a pilot fund management enterprise:

（一）                试点申请书（模板见附件1）；

Pilot application letter (see Appendix 1 for the template);

（二）                授权委托书（如需）；

Power of attorney (if required);

（三）                存续经营的试点基金管理企业或其控股股东、实际控制人或执行事务合伙人营业执照/登记注册证明或其他身份证明文件；

Business license/certificate of incorporation or other identity documents of the pilot fund management enterprise or its controlling shareholder, actual controller or executive partner that is existing for operation;

（四）                公司章程/合伙协议或草案；

Articles of association/partnership agreement or the draft thereof;

（五）                内部控制制度，包括会计制度、内部审计制度、风险控制制度、信息公开制度等；

Internal control policies, including accounting policy, internal audit policy, risk control policy, information disclosure policy, etc.;

（六）                存续经营的境内基金管理企业，应提交在中国证券投资基金业协会私募基金管理人登记记录以及其管理基金在中国证券投资基金业协会的备案记录；

The domestic pilot fund management enterprise that is existing for operation shall submit the record of registration as a private fund manager with the AMAC and the record of filing of the fund under its management with the AMAC;

（七）                申请人最近1年未受所在地监管机构的重大处罚且无重大事项正在接受司法部门、监管机构立案调查的承诺函；

The undertaking letter stating that the applicant has not been subject to any major punishment by the regulatory authority in the place where it domiciles for the most recent one year and is not currently under investigation by any judicial organ or regulatory authority for any major matter;

（八）                法定代表人或执行事务合伙人（委派代表）及高级管理人员的人员情况表、简历、专业资质证书以及从业证明；

The personnel information sheets, resumes, professional qualification certificates and practitioner certificates of the legal representative or executive partner (authorized representative) and senior management personnel;

（九）                试点基金管理企业或其控股股东、实际控制人、执行事务合伙人中任一主体或上述任一主体的关联实体须提供上一年度审计报告以及境内外资产管理从业背景介绍，以及金融许可文件、既往投资业绩、基金管理规模的证明材料；

Any of the pilot fund management enterprise or its controlling shareholder, actual controller, executive partner or a related party  of any of the aforesaid entities shall provide the audit report for the last year, the introduction of its domestic and overseas asset management experience, financial license, and supporting materials on its past track records and the scale of fund assets under its management;

（十）                拟设立试点基金的项目计划及总规模；

The project plan and total scale of the proposed pilot fund(s);

（十一）        省金融监管部门和其他试点相关单位按照审慎性原则要求的其他文件。

Other documents required by the provincial administration for financial regulation and other authorities related to the pilot program based on the principle of prudence.

第二十条         申请成为试点基金，申请人应提交如下材料：

Article 20                 The applicant shall submit the following materials to apply to become a pilot fund:

（一）      计划说明书/募集说明书/推介材料；

Explanatory memorandum/private placement memorandum/marketing materials;

（二）      试点基金的公司章程/合伙协议/基金合同或草案；

The articles of association/partnership agreement/fund contract or the draft thereof of the pilot fund;

（三）      拟申请试点基金的委托管理协议或草案（如有）；

Investment management agreement or the draft thereof of the proposed pilot fund (if any);

（四）      合格境内有限合伙人为机构投资者的，须提交该机构上一年度审计报告；合格境内有限合伙人为自然人投资者的，须提供近3年收入证明、金融资产证明材料或金融净资产承诺函，确保符合本办法的要求；所有合格境内有限合伙人的投资明细、出资凭证（如有）以及风险揭示书；

If a qualified domestic limited partner is an institutional investor, it shall provide the audit report for the last year; if a qualified domestic limited partner is a natural person investor, he/she shall provide proof of income, proof of financial assets or undertaking letter on net financial assets for the last three years to ensure the requirements of the Measures have been complied with; the investment details, capital contribution certificate (if any) and risk disclosure letter of all qualified domestic limited partners;

（五）      试点基金如委托行政管理人负责基金的后台行政管理，须提交行政管理人的营业执照、业务资质证明，最近3年未受到监管机构重大处罚且无重大事项正在接受调查的承诺函，以及基金与行政管理人签署的意向性文件，行政管理人熟悉境外基金行政管理业务的专职人员情况表、简历，内部稽核监控制度和风险控制制度；

If the pilot fund appoints a fund administrator to be in charge of the back office administration, it is required to submit the fund administrator’s business license, business qualification certificate, the undertaking letter that the fund administrator has not been subject to major punishment by the regulatory authority in the last three years and is not currently under investigation for any major matter, the letter of intent executed by the pilot fund and the fund administrator, the information sheet and resumes of the dedicated personnel of the fund administrator who are familiar with overseas fund administration business, internal audit and monitoring policy and risk control policy;

（六）      认缴承诺书；

Subscription commitment letter;

（七）      省金融监管部门和其他试点相关单位按照审慎性原则要求的其他文件。

Other documents required by the provincial administration for financial regulation and other authorities related to the pilot program based on the principle of prudence.

第二十一条     试点基金管理企业及试点基金的申请资料须提供正本1份、副本6份，申请资料正本须加盖公章。有关试点基金行政管理人（如有）的证明资料，须同时加盖公章。

Article 21                 The applicant shall submit one original and six copies of the application materials for pilot fund management enterprises and pilot funds. The application materials shall be stamped with the official seal. The certification materials of the fund administrator of the pilot fund (if any) shall also be stamped with the official seal.

第二十二条     试点基金管理企业和试点基金取得获准试点书面意见后，应凭获准试点书面意见到省市场监管部门办理登记注册，并尽快到中国证券投资基金业协会办理登记备案手续。

Article 22                 After obtaining the written opinion on granting the pilot qualification and quota, the pilot fund management enterprise and pilot fund shall conduct registration with the provincial administration for market regulation and conduct the registration or filing procedure with the AMAC as soon as possible.

第二十三条     新设试点基金管理企业及试点基金应在注册设立后30个自然日内向省金融监管部门报送试点基金管理企业及试点基金的营业执照、公司章程/合伙协议、委托管理协议、托管协议、境内托管人与境外资产托管人签署的代理协议（如有），并抄送外汇管理部门和证券监管部门。资本金缴足后30个自然日内提供实际缴付注册资本金凭证。

Article 23                 The newly established pilot fund management enterprise and pilot fund shall submit to the provincial administration for financial regulation the business license, articles of association/partnership agreement, investment management agreement, custody agreement, sub-custody agreement executed by the onshore custodian and offshore asset custodian (if any) relating to the pilot fund management enterprise and the pilot fund, copying the foreign exchange administration and the securities regulatory authority within 30 days from the registration. The certificate of actual payment of the registered capital shall be provided within 30 days after the capital was paid in full.

第二十四条     试点基金管理企业应按照国家法律法规及规范性文件的要求开展资金募集活动，在试点相关单位批准的额度范围内在境内托管人处办理资金相关业务，可以按照公司章程/合伙协议/基金合同的约定进行利润分配或清算，投资收益和资本变动收入应按有关跨境资金管理规定及时汇回境内。

Article 24                 Pilot fund management enterprises shall conduct fundraising activities according to the requirements of the state laws and regulations and normative rules and conduct funds-related business at the onshore custodian within the quota approved by the authorities related to the pilot program. Pilot fund management enterprises may conduct distribution of dividends or liquidation as stipulated by the articles of association/partnership agreement/fund contract. The investment proceeds and income from capital changes shall be timely remitted back to Mainland China.

第六章 购付汇及对外投资流程

Chapter VI Purchase and Payment of Foreign Exchange and Outbound Investment Procedure

第二十五条     试点基金管理企业应委托一家在海南省设有分支机构的商业银行或具有基金托管资质并符合一定条件的金融机构作为试点基金的境内托管人。境内托管银行应符合下列条件：

Article 25                 Pilot fund management enterprises shall appoint a commercial bank that has set up a branch in Hainan Province or a financial institution that possesses fund custody qualification and meets certain conditions to be the onshore custodian of the pilot funds. The onshore custodian bank shall meet the following conditions:

（一）      有外汇指定银行资格、证券投资基金托管资格和经营人民币业务资格；

Having the qualification of being a foreign exchange-designated bank, the qualification of securities investment fund custody business and the qualification to conduct RMB business;

（二）      总部法人最近1个会计年度末实收资本不少于30亿元人民币或等值外币；

The paid-in capital of the legal person headquarter in the last one accounting year shall be no less than RMB3 billion or the equivalent amount in a foreign currency;

（三）      有足够熟悉境内外托管业务的专职人员；

Having dedicated personnel who are sufficiently familiar with the onshore and offshore custody business;

（四）      具备安全托管资产的条件；

Meeting the conditions for safe custody of assets;

（五）      具备安全、高效的清算能力；

Having secure and efficient settlement capability;

（六）      有完善的内部稽核监控制度和风险控制制度；

Having sound internal audit and monitoring policy and risk control policy;

（七）      最近3年内未受到监管机构的重大处罚，无重大事项正在接受司法部门、监管机构的立案调查；

Having not been subject to major punishment by the regulatory authority in the recent three year, and not currently being under investigation by any judicial organ or regulatory authority for any major matter;

（八）      最近3年无重大违反外汇及跨境人民币业务管理规定的行为；

Having not committed any material violation of administrative rules on foreign exchange and cross-border RMB business in the last three years;

（九）      试点相关单位要求的其他条件。

Other conditions required by the authorities related to the pilot program.

第二十六条     试点基金的境内托管人应履行的职责包括但不限于：

Article 26                 The duties of the onshore custodian of a pilot fund include but are not limited to:

（一）      须根据募集资金情况，为试点基金开设相应专用账户，对试点基金托管户内资金进行安全托管；

In light of the fundraising status, opening dedicated accounts for the pilot fund and safe custody of the funds in the custodial account of the pilot fund;

（二）      办理试点基金的有关跨境收支、结售汇业务，严格遵守国际收支申报、银行结售汇统计等外汇管理要求，报送结售汇统计报表并完整保存与申报有关的纸质单据备查；

Handling cross-border receipt and payment and settlement and sale of foreign exchange related to the pilot fund, strictly complying with the reporting on the balance of international receipt and payment, statistics on banks’ settlement and sale of foreign exchange and other foreign exchange administrative requirements, reporting the statistics statements on settlement and sale of foreign exchange, and fully keep the written records related to the reporting for future inspection;

（三）      境内托管人在业务机制和流程上保证自有资金及托管的其他资产与试点基金的资产完全隔离；

The onshore custodian shall ensure to achieve the full segregation of its proprietary funds and the assets under custody in terms of the business mechanism and procedure;

（四）      按照境内外有关法律法规、托管协议的约定办理试点基金资产的清算、交割事宜；

Handling the clearing and settlement of the fund assets of the pilot fund as stipulated in the relevant domestic and overseas laws and regulations and the custody agreement;

（五）      依法监督试点基金管理企业的投资运作，确保基金按照有关法律法规、投资管理协议约定的投资目标和限制进行管理；如发现投资指令或资金汇出汇入违法、违规，应及时向外汇管理部门汇报，并抄送省金融监管部门、省市场监管部门和证券监管部门；

Supervising the investment operation of the pilot fund management enterprise according to the law to ensure the fund is managed according to the relevant laws and regulations and the investment objective and restrictions as stipulated in the investment management agreement; If the onshore custodian detects that the investment instruction or the inbound and outbound funds remittance violates any laws or regulations, it shall report to the foreign exchange administration in a timely manner, copying the provincial administration for financial regulation, the provincial administration for market regulation and the securities regulatory authority;

（六）      保存合格境内有限合伙人的跨境资金汇出、汇入、兑换、资金往来、委托及成交记录等相关资料，保存的时间应不少于20年；

Keeping the records of inbound and outbound cross-border funds remittance, exchange, transfer of funds, appointment, transaction and other relevant materials of the qualified domestic limited partners for no less than 20 years;

（七）      试点相关单位根据审慎监管原则规定的其他职责。

Other duties prescribed by the authorities related to the pilot program according to the principle of prudential regulation.

第二十七条     试点基金管理企业在取得试点资格以及对外投资额度后，应持获准试点书面意见到外汇管理部门办理外汇登记。试点基金管理企业办理外汇登记应提交如下材料：

Article 27                 After obtaining the pilot qualification and overseas investment quota, the pilot fund management enterprise shall conduct the foreign exchange registration with the foreign exchange administration with the written opinion of granting the pilot qualification and quota. The pilot fund management enterprise shall submit the following materials in order to conduct the foreign exchange registration:

（一）      申请书（包括但不限于试点基金管理企业基本情况、拟发起试点基金情况、投资计划等）；

Application letter (including but not limited to the basic information of the pilot fund management enterprise, the information on the proposed pilot fund, the investment plan, etc.);

（二）      省金融监管部门出具的同意开展试点、给予试点额度的书面意见；

The written opinion issued by the provincial administration for financial regulation on granting the pilot qualification and pilot quota;

（三）      营业执照（如有）；

Business license (if any);

（四）      中国证券投资基金业协会的登记或备案情况（如有）；

Registration or filing status with the AMAC (if any);

（五）      如投资行为需履行境外投资备案或核准手续的，提交境外投资主管部门出具的项目核准文件或备案通知书等相关书面意见。

If the investment requires overseas investment filing or pre-approval procedure, the approval or filing notice and other relevant written opinion of the project issued by the competent authority of overseas investment shall be submitted.

第二十八条    试点基金管理企业可凭开展业务相关证明文件开立业务托管资金专用账户。试点基金管理企业开设的涉及试点业务的账户均应纳入托管，并应授权境内托管人对托管资金专用账户进行托管运营与监督。境内托管人作为独立第三方实时监控资金使用情况。试点基金管理企业开立托管资金专用账户，应提交加盖相关主体公章的如下材料并提交原件以供核查：

Article 28                 A pilot fund management enterprise may open the dedicated custodial accounts with the business related certification documents. The accounts involved in the pilot business opened by the pilot fund management enterprise shall be subject to custody and the onshore custodian shall be authorized to conduct custodial operation and supervision of the dedicated accounts for custody of funds. The onshore custodian as the independent third party shall conduct real-time monitoring of the use of funds. To open the dedicated accounts for custody of funds, the pilot fund management enterprise shall submit the original of the following materials that are stamped with the official seal of relevant party for verification:

（一）      试点相关单位出具的同意开展试点、给予试点额度的书面意见；

Written opinion issued by the authorities related to the pilot program on granting the pilot qualification and pilot quota;

（二）      试点基金管理企业及试点基金营业执照；

Business license of the pilot fund management enterprise and pilot fund;

（三）      法定代表人或执行事务合伙人（委派代表）的身份证明文件；

Identity documents of the legal representative or executive partner (authorized representative);

（四）      办理完成外汇登记的证明资料；

Certification documents demonstrating that foreign exchange registration has been completed;

（五）      境内托管人要求的其他文件。

Other documents required by the onshore custodian.

第二十九条     托管资金专用账户的收入范围包括：从境内投资者募集的外汇（含人民币购汇资金）及人民币资金；对外投资赎回款和清算、转股、减资款；利润、分红、利息以及其他经常项下收入；国家外汇管理局允许的其他收入。托管资金专用账户的支出范围包括：划至境外进行规定范围内投资；结汇或直接划至境内有限合伙人账户（或募集结算资金专用账户）；支付相关税费；国家外汇管理局允许的其他支出。

Article 29                 The scope of inflow to the dedicated accounts for the custody of funds includes: foreign exchange funds (including the RMB funds for purchasing foreign exchange) and RMB funds raised from domestic investors; redemption proceeds and liquidation, share transfer and capital decrease related to overseas investment; profits, distributed dividends, interest and other income under current account; other income permitted by the State Administration of Foreign Exchange. The scope of outflow of the dedicated accounts for the custody of funds includes: the fund transferred overseas to make investment within the prescribed scope; the funds transferred (directly or after settlement) to the account of domestic limited partners (or the dedicated accounts for fundraising and settlement); payment of relevant taxes; other expenditure permitted by the State Administration of Foreign Exchange.

第三十条         试点基金管理企业募集境内合格有限合伙人资金，可在购汇后或直接以人民币形式通过托管资金专用账户进行境外投资。

Article 30                 The funds of qualified domestic limited partners raised by the pilot fund management enterprise may be invested overseas with the dedicated accounts for the custody of funds after purchasing foreign exchange or directly in the form of RMB.

第三十一条     试点基金管理企业发生增资、减资或股东/合伙人变更等重大事项时，须获得试点相关单位批准。试点基金管理企业对外投资额度发生调整时，在获得试点相关单位书面意见后，应到外汇管理部门办理外汇变更登记手续。试点基金管理企业发起成立的所有试点基金清盘后，试点基金管理企业应到外汇管理部门申请办理注销登记。

Article 31                 In case of major events of the pilot fund management enterprise such as capital increase, capital decrease or change of shareholder/partner, it shall obtain the approval of the authorities related to the pilot program. In the event of adjustment of the overseas investment quota of the pilot fund management enterprise, the pilot fund management enterprise shall conduct the foreign exchange change registration procedure after obtaining the written opinion of the authorities related to the pilot program. After the liquidation of all pilot funds launched by the pilot fund management enterprise, the pilot fund management enterprise shall apply for deregistration with the foreign exchange administration.

第三十二条     境内托管人应在办理资金汇出前审核试点基金的投资范围。如投资行为不需履行境外投资备案或核准手续的，按照试点相关单位出具的书面意见，在试点基金额度限额内，履行托管协议约定进行跨境资金汇划；如投资行为需履行境外投资备案或核准手续的，还应审核境外投资主管部门出具的项目核准文件或备案通知书等相关书面材料，按单笔项目投资规模进行跨境资金汇划。

Article 32                 The onshore custodian shall review the investment scope of the pilot fund before handling the outbound funds remittance. If the investment activities do not require project filing or pre-approval procedure for overseas investment, the onshore custodian shall conduct cross-border funds transfer as stipulated in the custody agreement within the quota limit of the pilot fund according to the written opinion issued by the authorities related to the pilot program; if the investment activities requires project filing or pre-approval procedure for overseas investment, the onshore custodian shall also review the project approval or filing notice and other relevant written documents issued by the competent authority for overseas investment and conduct cross-border fund transfer according to the scale of each single project investment.

第三十三条     境内托管人应加强内控管理，对于保管的境外投资资金分账管理、独立核算，保证与托管人的自有资金及其他托管资金完全隔离。并应保证托管账户内资金安全，依法监督试点基金管理企业的投资运作，执行试点基金管理企业的指令，及时办理清算、交割事宜。境内托管人应按季度编制《海南省合格境内有限合伙人（QDLP）境外投资业务情况表》（模板见附件2），并于每季度结束后10个工作日内报送外汇管理部门，并抄送省金融监管部门。

Article 33                 The onshore custodian shall enhance the internal control management, maintain a separate account and conduct independent accounting for the funds for overseas investment under its custody, and undertake to completely segregate the custodian’s proprietary funds and other funds under custody. The onshore custodian shall also guarantee the security of the funds in the custodial account, supervise the investment operation of the pilot fund management enterprise according to the law, carry out the instructions of the pilot fund management enterprise, and handle clearing and settlement in a timely manner. The onshore custodian shall prepare the Report on Overseas Investment of Qualified Domestic Limited Partners (QDLP) in Hainan Province (see Appendix 2 for the template) on a quarterly basis and submit the sheet to the foreign exchange administration within 10 working days after the end of each quarter, copying the provincial administration for financial regulation.

第三十四条     基金份额的申购、赎回价格依据申购、赎回日基金份额净值加、减有关费用计算，并由试点基金管理企业或行政管理人审核后出具。

Article 34                 The subscription and redemption price of fund units shall be calculated on the basis of the net asset value per unit on the date of subscription and redemption, plus or minus the amount of relevant expenses, and shall be issued by the pilot fund management enterprise or the fund administrator after review.

第三十五条     试点基金收到的投资本金和收益，须得到试点基金管理企业或行政管理人审核确定。已实现的投资收益和本金，应汇至境内托管人的专用账户。

Article 35                 The investment principal and proceeds received by the pilot fund shall be reviewed and determined by the pilot fund management enterprise or the fund administrator. The realized investment proceeds and principal shall be remitted to the dedicated accounts opened with the onshore custodian.

第七章 行政管理

Chapter VII Fund Administration

第三十六条     试点基金管理企业可自行管理或委托符合本条规定条件的境内企业作为行政事务管理人，负责试点基金的后台行政管理。被委托的行政事务管理人应具备下列条件：

Article 36                 A pilot fund management enterprise may conduct the fund administration related matters on its own or appoint a domestic enterprise that meets the conditions prescribed in this Article as the fund administrator for the back office administration of the pilot fund. The appointed fund administrator shall meet the following conditions:

（一）      具备从事基金服务业务的相关资质；

Possessing relevant qualification to engage in fund service business;

（二）      配备专门从事基金行政管理业务的部门或团队，并有足够熟悉境外基金行政管理业务的专职人员；

Having specialized department or team for fund administration business and dedicated personnel who are sufficiently familiar with overseas fund administration business;

（三）      有完善的内部稽核监控制度和风险控制制度；

Having sound internal audit and monitoring policy and risk control policy;

（四）      最近3年未受到监管机构的重大处罚，无重大事项正在接受司法部门、监管机构的立案调查。

Having not been subject to major punishment by the regulatory authority in the last three years and is not currently under investigation by judicial organ or regulatory authority for any major matter.

第三十七条     试点基金管理企业或行政事务管理人应履行的职责包括但不限于：

Article 37                 The duties of a pilot fund management enterprise or the fund administrator include but are not limited to:

（一）      依照试点基金的估值政策和流程计算基金的资产净值和投资收益情况，并定期向合格境内有限合伙人发布；

Calculating the net asset value and investment proceeds of the pilot fund according to the valuation policies and procedures of the fund and disclosing the same to the qualified domestic limited partners regularly;

（二）      维护试点基金的财务账簿和记录，并可提供完整的试点基金执行的交易记录；

Maintaining the financial books and records of the pilot fund and being capable to provide the full records of the transactions executed by the pilot fund;

（三）      维护与试点基金投资、退出及交易有关的支持基金的资产净值计算的所有文件；

Maintaining all documents related to the investment, exit and trading of the pilot fund that support the calculation of net asset value of the pilot fund;

（四）      提供与权益的发行、转移和赎回有关的登记及过户代理服务并执行相关操作；

Providing the registration and transfer agency services related to the issuance, transfer and redemption of interests and performing relevant operations;

（五）      依照有关反洗钱政策和程序，核实试点基金投资者的身份；

Verifying the identity of investors of pilot funds according to relevant anti-money laundering policies and procedure;

（六）      及时向省金融监管部门、外汇管理部门、省市场监管部门和证券监管部门报送信息。

Reporting information to the provincial administration for financial regulation, the foreign exchange administration, the provincial administration for market regulation and the securities regulatory authority in a timely manner.

第八章 企业额度、投资管理

Chapter VIII Enterprise Quota and Investment Management

第三十八条     对外投资额度实行余额管理。试点基金管理企业发起的所有试点基金本、外币对外投资净汇出（不含股息、税费、利润等经常项目收支）之和不得超过该试点基金管理企业获批的投资额度。试点基金管理企业及试点基金对外投资涉及的资金汇出，应在试点额度内在托管人处办理，并须遵循按需购汇、额度管理和风险提示的原则。

Article 38                 The overseas investment quota is administered based on the quota balance. The aggregate amount of the net outbound remittance for overseas investment in RMB and foreign currencies (excluding dividends, taxes, profits and other receipt and payment under current account) by all pilot funds launched by the pilot fund management enterprise shall not exceed the approved investment quota of the pilot fund management enterprise. The outbound funds remittance involved in the overseas investment by the pilot fund management enterprise and pilot fund shall be handled by the custodian within the pilot quota and shall adhere to the principles of purchasing foreign exchange on demand, quota administration and risk disclosure.

第三十九条     试点基金管理企业可发起成立多只试点基金。除另有规定外，试点基金管理企业可在其设立的各基金之间灵活调剂单只试点基金对外投资额度，各单只试点基金对外投资额度之和不得超过经试点相关单位批准的试点基金管理企业对外投资额度。

Article 39                 A pilot fund management enterprise may launch several pilot funds. Except as otherwise prescribed, a pilot fund management enterprise may flexibly adjust the overseas investment quota of a single pilot fund among the pilot funds it launches. The total overseas investment quota of all the pilot funds shall not exceed the overseas investment quota of the pilot fund management enterprise approved by relevant authorities related to the pilot program.

第四十条         单个试点基金管理企业的额度申请和单个投资项目额度无限制。如无特殊原因，试点基金管理企业在获取试点资格和额度11个月内未使用额度的，省金融监管部门应告知对于一年内未使用额度的试点基金管理企业，省金融监管部门有权取消其试点资格并收回全部试点额度，如需开展业务，需要重新申请试点资格和试点额度。因日后续约或追加投资导致基金获批额度不足的，试点基金管理企业应重新申请追加额度。

Article 40                 There is no limit on the quota application of a single pilot fund management enterprise and the quota for a single investment. If a pilot fund management enterprise fails to use the quota within 11 months from obtaining the pilot qualification and quota without special reasons, the provincial administration for financial regulation shall inform the pilot fund management enterprise that it has the power to cancel the pilot qualification and withdraw all the pilot quota of the pilot fund management enterprise that fails to use the quota within one year, and the pilot fund management enterprise shall re-apply for the pilot qualification and pilot quota if it would like to carry out business. In case of quota insufficiency due to future renewal of contract or additional investment, the pilot fund management enterprise shall re-apply for additional quota.

第四十一条     试点基金管理企业应按照相关法律法规、本办法及相关协议的约定，运用所募集的资金投资于境外，不得使用本试点额度在中国境内进行投资。

Article 41                 Pilot fund management enterprises shall invest the raised funds overseas according to the relevant laws and regulations, the Measures and relevant agreements, and shall not use the pilot quota to invest in Mainland China.

第九章 信息披露

Chapter IX Information Disclosure

第四十二条     试点基金管理企业、境内托管人、行政事务管理人等信息披露义务人应按照相关法律法规、规范性文件和本办法规定，以及与合格境内有限合伙人的相关约定在基金募集、运作的全过程履行信息披露义务。

Article 42                 The information disclosure obligors such as the pilot fund management enterprise, onshore custodian, fund administrator, etc. shall perform their information disclosure obligations throughout the whole process of fundraising and operations of the funds according to the relevant laws and regulations, normative documents and the Measures, as well as the agreements with qualified domestic limited partners.

第四十三条     试点基金管理企业可以人民币、美元等主要币种计价并披露试点基金资产净值等相关信息。涉及币种之间转换的，应披露汇率数据来源，并保持一致性和延续性。如出现改变，应同步予以披露并说明改变的理由。人民币对主要外汇的汇率应以报告期末最后一个估值日中国人民银行或其授权机构公布的人民币汇率中间价为准。

Article 43                 Pilot fund management enterprises may denominate the pilot funds in a major currency such as RMB or US dollar and disclose the net asset value of the pilot funds and other relevant information. When currency conversion is involved, the source of exchange rate shall be disclosed to keep the consistency and continuity. In case of any change, such change shall be disclosed simultaneously, together with the reasons for such change. The exchange rate of RMB against major foreign currencies shall be subject to the median exchange rate of RMB published by the People’s Bank of China or its authorized agency on the last valuation day at the end of the reporting period.

第四十四条     试点基金管理企业应按照以下原则披露投资事项：

Article 44                 A pilot fund management enterprise shall disclose the investment matters according to the following principles:

（一）      应在募集说明书中详细说明投资策略以及该项策略使用的金融工具，并对相关金融工具进行介绍；

Investment strategies and the financial instruments accordingly used for such strategies shall be illustrated in detail in the private placement memorandum, and the relevant financial instruments shall be introduced;

（二）      如投资境外基金的，应披露试点基金与境外基金之间的费率安排；

Where investing in the offshore funds, the fee rate arrangement between the pilot funds and the offshore funds shall be disclosed;

（三）      如参与融资融券、回购交易，应在募集说明书中按照有关规定进行披露，并应明确披露所用杠杆比率；

Where conducting securities margin or repo trading, such shall be disclosed in the private placement memorandum according to relevant provisions, and the leverage ratio shall be specifically disclosed;

（四）      在募集说明书中应对投资境外市场可能产生的下列风险进行披露：境外市场风险、政府管制风险、流动性风险、汇率风险、利率风险、衍生品风险、操作风险、会计核算风险、税务风险、交易结算风险、法律风险等，披露的内容应包括以上风险的定义、特征、可能发生的后果等；

The following potential risks associated with investment in offshore markets shall be disclosed in the private placement memorandum: overseas market risk, government control risk, liquidity risk, foreign exchange rate risk, interest rate risk, derivative risk, operational risk, accounting risk, taxation risk, trading and settlement risk, legal risk, etc., and the disclosed information shall include the definitions, features, possible consequences, etc. thereof;

（五）      应按照有关规定对代理投票的方针、程序、文档保管进行披露。

Disclosing the guidelines, procedures and document retention of proxy voting according to relevant provisions.

第四十五条     向合格境内有限合伙人提供的信息披露文件应采用中文文本，同时采用外文文本的，应保证两种文本内容一致。两种文本发生歧义时，以中文文本为准。

Article 45                 The information disclosure documents provided to qualified domestic limited partners shall be in Chinese. If the documents are also in a foreign language, the contents of the two versions shall be consistent. In case there is any discrepancy in the contents between the two versions, the Chinese version shall prevail.

第十章 监督管理

Chapter X Supervision and Administration

第四十六条     试点基金管理企业和试点基金在完成登记备案后，省市场监管部门应将其商事主体登记信息实时推送到省信息共享交换平台，试点相关单位应根据需求通过省信息共享交换平台获取省市场监管部门相关数据。

Article 46                 After pilot fund management enterprises and pilot funds complete the registration and filing, the provincial administration for market regulation shall transfer their commercial entity registration information to the provincial information sharing and exchange platform in real time, and relevant authorities related to the pilot program shall obtain relevant data of the provincial administration for market regulation through the provincial information sharing and exchange platform based on its needs.

第四十七条     试点相关单位根据各自职责负责试点基金管理企业和试点基金的监督管理。探索开展事中事后监管，运用区块链等金融科技手段，加强对基金的风险管理。同时将其商事主体及时纳入监管范围加强监管，并做好数据安全和保密工作。

Article 47                 The authorities related to the pilot program shall be responsible for the supervisions and administration of pilot fund management enterprises and pilot funds according to their duties. The authorities related to the pilot program shall explore the ongoing and post regulation and utilize fintech methods such as blockchain, to enhance the risk management of the funds. Meanwhile, the authorities related to the pilot program shall include the commercial entities under their regulation in a timely manner and enhance the regulation of such entities and properly handle the data security and confidentiality work.

第四十八条     试点基金管理企业应于每个自然年结束后的20个工作日内向省金融监管部门报送上年度试点基金的资金变动、结售汇情况和境外投资情况报告。

Article 48                 The pilot fund management enterprises shall submit to the provincial administration for financial regulation the report on change of funds, settlement and sale of foreign exchange and overseas investment of the pilot funds for the last year within 20 working days from the end of each year.

取得试点资格的试点基金管理企业，应在投资运作过程中发生下列事项后15个工作日内及时向省金融监管部门书面报告：

The pilot fund management enterprises obtaining the pilot qualification shall submit a written report to the provincial administration for financial regulation within 15 working days after the occurrence of the following events in the course of investment operation:

（一）      修改合同、章程或合伙协议等重要文件；

Amendments to important documents such as contracts, articles of association or partnership agreement;

（二）      高级管理人员、主要投资管理人员的变更；

Change of senior management personnel and key investment management personnel;

（三）      解散或清算；

Dissolution or liquidation;

（四）      省金融监管部门要求的其他事项。

Other events required by the provincial administration for financial regulation.

第四十九条     试点基金管理企业应在每季度结束后10个工作日内，向外汇管理部门及省金融监管部门报告相关投资产品信息（模板见附件3），包括：

Article 49                 Pilot fund management enterprises shall report relevant information of investment products (see Appendix 3 for the template) to the foreign exchange administration and the provincial administration for financial regulation within 10 working days from the end of each quarter, including:

（一）      资金汇出入、购结汇情况；

Inbound and outbound funds remittance, purchase and settlement of foreign exchange;

（二）      基本投资情况，包括：投资品种、基金净值、资金投向、境内募集资金来源情况等信息。

Basic information on the investment of pilot funds, including investment varieties, net asset value, investment orientation, sources of funds raised from Mainland China, etc.

第五十条         境内托管人和行政事务管理人应及时向省金融监管部门报告试点基金资产托管相关的重大事项和试点基金管理企业违法违规事项。违法违规事项逾期未改正的，省金融监管部门有权会同试点相关管理部门取消其试点资格、收回试点额度，并按相关规定进行处罚。

Article 50                 The onshore custodian and fund administrator shall report the major events related to the asset custody of pilot funds and violations of laws and regulations of pilot funds to the provincial administration for financial regulation in a timely manner. If the violation against laws and regulations is not rectified within the prescribed timeline, the provincial administration for financial regulation has the authority, together with relevant administrative departments related to the pilot program, to cancel the pilot qualification, withdraw the pilot quota, and impose punishment according to relevant provisions.

第五十一条     试点基金管理企业应按期向省金融监管部门提供季度、年度报告。季度报告包括但不限于认缴规模、实缴规模、投资者情况、投资情况、退出情况、基金净值以及购汇、结汇、账户资金变动等；年度报告包括但不限于上年度试点基金的资金变动、结售汇情况、境外投资情况报告、重大事项变更、审计报告等情况。

Article 51                 The pilot fund management enterprises shall submit quarterly and annual reports to the provincial administration for financial regulation on time. The quarterly report shall include, without limitation to, subscription scale, scale of paid-in capital, investor information, investment, exit, net asset value of the funds, purchase and settlement of foreign exchange, change of funds in the account, etc.; the annual report shall include, without limitation to, change of funds, settlement and sale of foreign exchange, overseas investment, major changes, audit report, etc. of the pilot funds for the last year.

第五十二条     试点基金管理企业和试点基金违反本办法规定的，省金融监管部门应会同有关管理部门进行调查，情况属实的，责令其限期整改；逾期未改正的，省金融监管部门应向社会公告，并会同相关部门依法进行查处；构成犯罪的，移交司法部门依法追究刑事责任。

Article 52                 Where pilot fund management enterprise and pilot funds violate the provisions of the Measures, the provincial administration for financial regulation shall conduct investigations with relevant administrative departments. If the violation really exists, relevant pilot fund management enterprise or pilot fund shall be ordered to make rectification within the prescribed timeline; if the violation is not rectified within the prescribed timeline, the provincial administration for financial regulation shall announce to the public and conduct investigations with relevant departments according to the law; if the violation constitutes a crime, the case shall be transferred to the judicial organ for pursuing criminal liability according to the law.

第十一章 附则

Chapter XI Supplementary Provisions

第五十三条     本办法在海南省范围内适用，由省金融监管部门负责解释。省金融监管部门会同其他试点相关单位可根据海南开展合格境内有限合伙人境外投资试点工作的实施进展情况，对相关规定进行适时调整。

Article 53                 The Measures apply in Hainan Province and is subject to interpretation by the provincial administration for financial regulation. The provincial administration for financial regulation, together with other authorities related to the pilot program, may adjust relevant provisions according to implementation progress of the Hainan pilot program of overseas investment by qualified domestic limited partners when appropriate.

第五十四条     本办法自发布之日起实施。

Article 54                 The Measures shall take effect from the date of promulgation.

附件1

Appendix 1

试点申请书

Pilot Application Letter

省金融监管部门、省市场监管部门、外汇管理部门、证券监管部门：

To the provincial administration for financial regulation, the provincial administration for market regulation, the foreign exchange administration, the securities regulatory authority,

根据《海南省开展合格境内有限合伙人（QDLP）境外投资试点工作暂行办法》的相关规定，本申请人现申请             

               【试点基金管理企业或试点基金名称】海南省合格境内有限合伙人境外投资试点资格，拟申请境外投资额度共计            【金额】。

According to the Interim Measures of Hainan Province for the Pilot Program of Overseas Investment by Qualified Domestic Limited Partners (QDLP), the applicant now applies for the pilot qualification for overseas investment by qualified domestic limited partners in Hainan Province for                [Name of the pilot fund management enterprise or name of the pilot fund], and plans to apply for the overseas investment quota of                [Amount].

本申请人向省金融监管部门、省市场监管部门、外汇管理部门、证券监管部门及其他单位提交的所有书面申请材料及其所包含信息均为真实、准确、完整及有效，所有扫描件及复印件与原件均完全一致。

All the written application materials and the information therein submitted by the applicant to the provincial administration for financial regulation, the provincial administration for market regulation, the foreign exchange administration, the securities regulatory authority and other departments are authentic, accurate, complete and valid, and all the scanned copies and photocopies conform to the originals.

如本申请人提交的资料和信息存在不实、重大遗漏或误导之处，或本申请人存在任何以虚假资料或不当手段取得获准试点书面意见的情形，本申请人应承担包括但不限于试点基金资格被撤销或取消、本申请人及主要负责人接受监管部门相应处罚等一切法律责任。

If there are any inaccuracies, material omissions or misleading information in the materials and information submitted by the applicant, or if there are any circumstances under which the applicant has used false materials or improper means to obtain the written approval for participating in the pilot program, the applicant shall bear all the legal liabilities including but not limited to the withdrawal or cancellation of the pilot qualification of the pilot fund(s), and the corresponding penalties by the regulators imposed on the applicant and its key person in charge.

试点申请工作须提交资料清单包括：

The document checklist for participating in the pilot program includes:

1.      本试点申请书；

Pilot application letter;

2.      授权委托书（如需，模板见附件1-1）；

Power of attorney (if required, please refer to Appendix 1-1 for the template);

3.      试点基金管理企业或其控股股东、实际控制人或执行事务合伙人中任一主体或上述任一主体的关联实体营业执照/登记注册证明或其他身份证明文件；

Business license/certificate of incorporation or other identity documents of any of the pilot fund management enterprise or its controlling shareholder, actual controller or executive partner, or the related party of any of the aforementioned entities;

4.      公司章程/合伙协议或草案；

Articles of association/partnership agreement or the draft thereof;

5.      内部控制制度，包括会计制度、内部审计制度、风险控制制度、信息公开制度等；

Internal control policies, including accounting policy, internal audit policy, risk control policy, information disclosure policy, etc.;

6.      在中国证券投资基金业协会私募投资基金管理人登记记录以及其管理基金在中国证券投资基金业协会的备案记录（存续经营的境内基金管理企业适用）；

Record of registration as a private investment fund manager with Asset Management Association of China (the “AMAC”) and record of filing of the funds under its management with the AMAC (applicable to the domestic pilot fund management enterprise that is existing for operation);

7.      申请人最近1年未受所在地监管机构的重大处罚且无重大事项正在接受司法部门、监管机构立案调查的承诺函（模板见附件1-2）；

The undertaking letter stating that the applicant has not been subject to any major punishment by the regulatory authority in the place where it domiciles for the most recent one year and is not currently under investigation by any judicial organ or regulatory authority for any major matter (please see Appendix 1-2 for the template);

8.      法定代表人或执行事务合伙人（委派代表）及高级管理人员的人员情况表、简历、专业资质证书以及从业证明（模板见附件1-3）；

The personnel information sheets, resumes, professional qualification certificates and practitioner certificates of the legal representative or executive partner (authorized representative) and senior management personnel (please see Appendix 1-3 for the template);

9.      试点基金管理企业或其控股股东、实际控制人或执行事务合伙人中任一主体或上述任一主体的关联实体须提供上一年度审计报告以及境内外资产管理从业背景介绍。试点基金管理企业控股股东、实际控制人或执行事务合伙人中任一主体或上述任一主体的关联实体为金融企业的，须提交金融许可证明文件，为基金管理企业的，应提交良好投资业绩、基金管理规模的证明材料；

Any of the pilot fund management enterprise or its controlling shareholder, actual controller, executive partner or a related party of any of the aforesaid entities shall provide the audit report for the last year, and an introduction of its domestic and overseas asset management experience. If any of the pilot fund management enterprise or its controlling shareholder, actual controller or executive partner, or a related party of any of the aforesaid entities is a financial institution, the financial license shall be submitted; supporting materials for good track record and AUM of the funds under its management shall be submitted if it is a fund management enterprise;

10.  拟申请试点基金的计划说明书/募集说明书（书写要求见附件1-10）/推介材料；

Explanatory memorandum/ private placement memorandum (please refer to Appendix 1-10 for the drafting requirements)/marketing materials of the proposed pilot fund;

11.  拟申请试点基金的投资方向和项目储备；

Investment objectives and project pool of the proposed pilot fund;

12.  拟申请试点基金的公司章程/合伙协议/基金合同或草案；

Articles of association/partnership agreement/fund contract or the draft thereof of the proposed pilot fund

13.  拟申请试点基金的委托管理协议或草案（如有）；

Investment management agreement or the draft thereof of the proposed pilot fund (if any);

14.  合格境内有限合伙人为机构投资者的，须提交该机构上一年度审计报告；合格境内有限合伙人为自然人投资者的，须提供近3年收入证明、金融资产证明材料或金融净资产承诺函（模板见附件1-6），确保符合《海南省开展合格境内有限合伙人（QDLP）境外投资试点工作暂行办法》的要求；所有合格境内有限合伙人的投资明细、出资凭证（如有）以及风险揭示书（书写要求见附件1-7）；

If a qualified domestic limited partner is an institutional investor, it shall provide the audit report for the last year; if a qualified domestic limited partner is a natural person investor, he/she shall provide proof of income for the last three years, proof of financial assets or undertaking letter on net financial assets (please see Appendix 1-6 for the template) to ensure that they meet the requirements of the Interim Measures of Hainan Province for the Pilot Program of Overseas Investment by Qualified Domestic Limited Partners (QDLP); investment details, capital contribution certificate (if any) and risk disclosure letter of all the qualified domestic limited partners (please refer to Appendix 1-7 for the drafting requirements);

15.  试点基金与境内托管人签署的托管协议或草案，境内托管人与境外资产托管人签署的代理协议或草案；

The signed custodian agreement or its draft to be signed between the pilot fund and the onshore custodian, the signed agency agreement or its draft to be signed between the onshore custodian and the offshore asset custodian;

16.  境内托管人的营业执照及其经营外汇及人民币业务许可证明，境内托管人经审计的上一年度财务报告，最近3年未收到监管机构重大处罚且无重大事项正在接受调查的承诺函，最近3年内无重大违反外汇及跨境人民币业务管理规定的承诺函（模板见附件1-8），托管人熟悉境内外托管业务的专职人员情况表、简历（模板见附件1-11）；内部稽核监控制度和风险控制制度；

Business license of the onshore custodian and its permit to engage in foreign exchange and RMB business, audit report for the last year, a letter of undertaking stating that the company has not been subject to any major punishment by the regulatory authority in the last 3 years, and is not currently under investigation due to any major matter, a letter of undertaking stating that the company has not committed any material violation of administrative rules on foreign exchange and cross-border RMB business in the last three years (please see Appendix 1-8 for the template); information sheet and resumes of dedicated personnel who are familiar with onshore and offshore custodian business (please see Appendix 1-11 for the template), and its internal audit and monitoring policy and risk control policy;

17.  拟申请基金如委托行政管理人负责基金的后台行政管理，须提交行政管理人的营业执照、业务资质证明，最近3年未受到监管机构重大处罚且无重大事项正在接受调查的承诺函（模板见附件1-4），以及基金与行政管理人签署的意向性文件，行政管理人熟悉境外基金行政管理业务的专职人员情况表、简历（模板见附件1-11），内部稽核监控制度和风险控制制度；

If the pilot fund appoints a fund administrator to be in charge of the back office administration, it is required to submit the fund administrator’s business license, business qualification certificate, the undertaking letter that the fund administrator has not been subject to major punishment by the regulatory authority in the last three years and is not currently under investigation for any major matter (please see Appendix 1-4 for the template), and the letter of intent executed by the pilot fund and the fund administrator, the information sheet and resumes of the dedicated personnel of the fund administrator who are familiar with overseas fund administration business (please see Appendix 1-11 for the template), and the internal audit and monitoring policy and risk control policy of the fund administrator;

18.  按期缴足出资承诺函（模板见附件1-5）；

Undertaking letter for making the full capital contribution on schedule (please see Appendix 1-5 for the template);

19.  补交材料承诺函（模板见附件1-9）；

Undertaking letter for submitting supplemental materials (please see Appendix 1-9 for the template);

20.  省金融监管部门和其他试点相关单位按审慎性原则要求的其他文件。

Other materials required by the provincial administration for financial regulation and other authorities related to the pilot program in accordance with the principle of prudence.

  申请人名称（公章）：

Name of the applicant (chop):

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