The Policy Analysis And Perspective Forecast On Chinese Mainland's QFⅡ

This paper launches a research on China's QFII (Qualified Foreign Institutional Investor) policy, which is widely applied during the early period of many countries's capital market opening-up process, and has been put into practice in China since the end of year 2002.The paper consists of four major parts: the first part (Chapter 1) introduces the acadamic background, definition, essence and characters of QFII policy, a way of opening up a country's capital market. The second part (Chapter 2) conducts the case analysis on Taiwan's QFII policy, which has been brought into effect since the end of 1990, and successfully drove the development of taiwan's capital market, expecting to summarize the backgroud, fundamental environment, necessary strategy adjustments and specific influences of QFII policy and find out the determining factors on QFII policy's success. The third part (Chapter 3-Chapter 5) makes the policy analysis, comparing China mainland's QFII policy with Taiwan's, discussing the necessity of China's QFII policy, and clarifying several major concerns of China's QFII policy. The fourth part (Chapter 6-Chapter 7) processes the perspective analysis on QFII's action and strategy after entering China's capital market, the positive influences and threats from the QFII policy. Then the paper is wraped up with some suggestions on QFII policy based on above policy analysis, perspective forecast and indepth comparision analysis with Taiwan.The paper employs the case anlysis method, providing a full and accurate description and multi-angle analysis on the whole execution process of QFII policy, in order to prove up the determining factors on QFII policy's success, to measure China's QFII's policy and impact, and to bring up the suggesions.