I. Product Overview QDLP (Qualified Domestic Limited Partner) refers to the projects that domestic institutional investors, after fulfilling the procedures such as qualification approval, limit approval and supervision over other forex fund supervision procedures, convert RMB into foreign currencies within the approved limit, and invest the foreign exchange funds in overseas equity investment funds.
II. Target Customers Pursuant to the prevailing regulations on QDLP, ICBC mainly offers QDLP custody services to overseas investment fund companies established by partnership in accordance with laws and regulations.
III. Scope of Services 1. Account opening: open fund account, securities account and other relevant accounts for QDLP customers in accordance with requirement of regulators; 2. Asset custody: set independent accounts for different QDLPs, keep the account independently, make sure the account balance match with vouchers, and guarantee the integrity and independence of fund assets; 3. Fund transfer: timely handle clearing and delivery of fund assets in accordance with investment instructions issued by fund managers; 4. Investment supervision: supervise whether instructions and investment operation of the fund managers are compliant according to laws/regulations and requirements of the customers; 5. Accounting: carry out fund accounting, check and review net asset value of fund assets calculated by fund managers; 6. Custody report: provide fund custody and accounting reports to fund investors and regulators on a regular basis; 7. Record keeping: keep record, accounts, statements and other materials relevant to the QDLP' custody business for at least 15 years in accordance with the government regulations.
IV. Advantages As the largest custodian bank in China, ICBC has maintained its leading position in the market for 18 consecutive years in terms of market share of asset custody business. It is also the most professional custodian bank in China, with an advanced custody service system independently developed by it. The system has obtained ISAE3402 authentication (formerly known as SAS70), the first one of its kind in China, indicating that ICBC’s custody services have met international standards. ICBC, the most powerful domestic commercial bank, owns a fast clearing network, abundant RMB funds and strong A share settlement capability, hence it can provide QDLP customers with efficient and comprehensive service support.
V. Flow Chart
VI. Contact Information If you would like to apply for any service, please contact the Global Asset Custody Division of Asset Custody Department of ICBC: Liaison: Jia Wenhui, Chang Yue, Fan Mei, Feng Peini, Sun Yang, Wang Qiu, Wang Zhongwei Tel.: (8610)66105757/5756/5700/5753/5754/5755/81013751 Fax: (8610)66105753 E-MAIL: email@example.com