Global Trustee and Fiduciary Services News and Views Issue 50

Global Trustee and Fiduciary Services News & Views | Issue 50 | 2018 97 Know your acronyms! One of the unfortunate features of the rapidly developing securities and asset management markets in China is the proliferation of acronyms for many schemes. Even those with a full-time working knowledge of this industry have trouble remembering all the terms applicable. Here are some of the key acronyms. AMAC The Asset Management Association of China CIBM China Interbank Bond Market CSRC China Securities Regulatory Commission CBRC China Banking Regulatory Commission CBIRC China Banking and Insurance Regulatory Commission ETF Connect Exchange Traded Funds Connect (between Hong Kong and China) FMC Securities Investment Fund Management Company HKEx/SEHK Hong Kong Exchanges and Clearing/Stock Exchange of Hong Kong IA Investment Advisory JV FMC Joint Venture Fund Management Company MRF Mutual Recognition of Funds (between Hong Kong and China) PBoC The People’s Bank of China PFM Private Securities Investment Fund Management Institution PFM (AML) Private Fund Management (Asset Management License) QDII/RQDII Qualified Domestic Institutional Investor (RMB QDII) QDLP Qualified Domestic Limited Partnership QFII/RQFII Qualified Foreign Institutional Investor (RMB QFII) RMB Renminbi (The Chinese currency) also known as Yuen SAFE State Administration of Foreign Exchange SAIC State Administration for Industry and Commerce SC/BC Stock Connect, Bond Connect (between Hong Kong and China) SFC Hong Kong Securities and Futures Commission SOE State Owned Enterprise WFOE Wholly Foreign Owned Enterprise WFOE IA WFOE Investment Advisor (license) WFOE PFM WFOE Private Fund Manager (license)