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recently a video goes viral on the internet, showing that a driver was fined 200 yuan on nansha harbour expressway, guangzhou, because his back-seat passenger didn’t wear seat belt. 

many people are shocked and puzzled. some of them don’t know there is a rule that rear passengers need to fasten seat belts. 

some of them are confused that it is drivers instead of passengers who should be responsible for that and will be punished if passengers violate the rule. 

residents have noticed that there are reminders on the expressway, saying that drivers will be fined 200 yuan for the rear passenger not wearing seat belt. 

guangzhou traffic police department said that rectification of traffic violations has been launched by guangzhou traffic police since july. 

during the investigation, the amount of both driver and passengers in cars wearing seat belts is less than 0.3%! 

according to the guangdong provincial regulations on road traffic safety, drivers or passengers who fail to use seat belts in accordance with the regulations shall be ordered to make corrections and shall be given a warning or a fine of 200 yuan. 

although many people have developed habits, it is widely considered unnecessary to wear seat belt when sitting in the back, which is totally wrong. 

vehicle seat belt is an effective safety protection device, which plays a protective role for the personal safety of drivers and passengers. 

it is reported that from july 1 to sept 15, 14 people died in traffic accidents on the highway in guangzhou, and 8 of them died for not wearing seat belts. 

nearly 30,000 people die each year because of the irregular use of seat belts, accounting for 50% of the traffic accident deaths. 

survey data statistics show that in a car accident that may lead to death, if the seat belt is fastened, the survival rate of the people in the car can be increased by 60%. 

 

 

in orer to effectively regulate the behaviors of drivers safeguard traffic order and keep from traffic accdients, a series of strict traffic regulations have been carried out. 

 

 click the following pic to know more about the rules! 

 

no matter you are riding buses or cars, please fasten your seat belt for the safety of you and others! 

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source | 直播广州

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as china drops restrictions on qfii/rqfii investment quotas and the us federal reserve cuts interest rates, china’s capital market is likely to benefit and it is more convenient for overseas investors to participate in china’s domestic financial markets. 

china is the largest and most influential emerging market in the world, with strong economic growth and rising global status. if you live in china, it’s a good chance to invest and make a fortune. 

today, we are going to introduce you some policies which encourage foreigners to invest and improve your financial condition in china. 

brief

 

• removal of qfii/rqfii

• ease of ownership restrictions

• allowance of a-shares trading

01

removal of qfii/rqfii 

on sept 10, the safe announced that it will abolish the investment quota restrictions for the qualified foreign institutional investors (qfii) and renminbi qualified foreign institutional investors (rqfii) to boost financial reforms and opening-up. 

qfii, set up in 2002, lets foreign funds invest onshore in china’s yuan-denominated a-shares. 

 

the pqfii program, introduced in 2011, gives investors access to offshore rmb to buy mainland-traded stocks. 

© image | 视觉中国

these two investment schemes are a major part of china’s strategy to open its capital markets to global investors. more than 400 institutional investors from 31 countries and regions have used them to access china’s capital markets. 

© image | scmp

in an effort to open up china’s financial markets, the qfii program had undergone several developments in recent years, including: 

• removal of relevant lock-up periods; 
• allowing foreign exchange hedging of securities held by qfiis in china; 
• doubling the total quota from $150 million to $300million. 

in safe’s press conference, it was announced that the relevant regulations will be revised soon. in other words,  

• foreign investors that have obtained the relevant qualifications approved by the csrc will only need to go through a registration process. 
• domestic custodian banks will be able to assist foreign investors with such registration in order to obtain a registration certificate issued by safe. 
• post-registration, investors will be able to open special fund accounts with the domestic custodian banks to handle the follow-up remittance of funds and exchange business. 

additionally, the jurisdictional limit on the rqfii program will be lifted and will be qualified foreign institutions worldwide while it was available only to financial institutions in 19 countries and regions before. 

02

ease of ownership limits 

as the world’s second largest economy fights slowing growth at home and a damaging trade war with the u.s., china lifts some restrictions on foreign investment in the financial sector. 

china will remove shareholding limits on foreign ownership in 2020. the involving sectors include: 

• securities; 
• insurance; 
• fund management. 

foreign investors will also be encouraged to set up wealth management firms, currency brokerages and pension management companies. 

foreign-owned credit rating agencies will also be allowed to evaluate a greater number of bond and debt types. 

 

03

allowance of a-shares trading 

in order to further open up china’s capital market, qualified foreign individual investors from 62 countries and regions are allowed to trade domestic a-shares through local brokers since sept 15, 2018. 

as the china securities depository and clearing corporation (csdc) said on its website, the updated regulations: 

• expand the investor base; 
• introduce more liquidity; 
• improve the structure of the securities market. 

under the regulations, foreigners matching the following criteria can set up a-share trading accounts: 

• foreigners with a permanent china residence card.
• foreign employees of listed a-share companies who currently live in china or abroad, as long as participating in the company’s equity incentives.
• foreigners working in china, regardless of whether they have obtained a permanent residence id card or not.
• foreigners who have established foreign-invested joint-stock companies in china which are listed on the a-share market. 

click the link to know more about it! 

04

bright future 

since the first foreign-invested company entered china about 40 years ago, china’s economic development has been closely connected with foreign investors. 

in 2018, fdi into china reached 138.3 billion dollars, 151 times that of 1983 and representing an average annual rate of 15.4 percent. 

 

over 960,000 foreign-invested enterprises had been set up in china by the end of last year, with the accumulated foreign direct investment exceeding 2.1 trillion dollars. 

china has been making consistent efforts to optimize its business environment and embrace investors worldwide and will create a stable, transparent, predictable and fair market environment in the future.

the country will set up 6 new pilot free trade zones to bring the total number to 18, which serve as pioneers to test new forms of: 

 

• foreign investment management, 
• trade facilitation, and 
• transformation of government functions. 

the country will also lift the investment quota limit for approved foreign investors to boost financial reform and opening up. 

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source | xinhua net/scmp

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the annual air warning test and civil air defense exercises will be conducted in guangzhou on the morning of sept 21, china’s national defense education day, for the purpose of improving residents’ abilities to respond to possible attacks. 

time

10:40 a.m. – 11:00 a.m. , sept 21

siren phases

• early warning

sound for 3 mins: sound for 36 secs, pause 24 secs, and repeat 3 times

• air raid warning

sound for 3 mins: sound for 6 secs, pause for 6 secs, and repeat 15 times

• all-clear

sound for 3 mins

during the test, the warning will be broadcast simultaneously across all radio channels, tv channels, bus tv, metro tv and other platforms. 

a total of 92 military vehicles, 12 boats and 2 unmanned aerial vehicles will be used in the exercise. 

it will be the 20th annual exercise the city has held. the maneuver will set a record for the number of participants since more than 1.66 million people from 1,542 schools and 72 organizations will join it. 

residents and college students will be evacuated from their houses and classroom buildings, learning how to take shelters, protect important facilities, and afford first-aid to the injured during the drill. 

in addition to issuing warnings to the public, the drill also will include a coastal defense event at the pearl river’s estuary. 

authorities remind the public to be prepared and not to panic when the sirens sound, people’s lives should proceed normally. 

 

© image | gzdaily

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source | guangzhou gov

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