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The RQFII","page_number":14,"box":{"x":692,"y":382,"width":247,"height":11}},{"id":"50655cd0-5986-40ca-adc8-22b8684142e1","block_type":"box","text":"regime is jointly regulated by","page_number":14,"box":{"x":165,"y":396,"width":205,"height":12}},{"id":"8578ea32-67dd-4008-b6db-da1bcbf20dea","block_type":"box","text":"the CSRC, SAFE and PBoC from different angles. 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The SZHK","page_number":14,"box":{"x":164,"y":745,"width":461,"height":11}},{"id":"798834b5-9a57-4ae4-86cd-d5b84222512e","block_type":"box","text":"Stock Connect is a similar securities trading","page_number":14,"box":{"x":630,"y":745,"width":309,"height":11}},{"id":"6d696fea-1d28-4e0a-a91b-1d72927277b2","block_type":"box","text":"and clearing linked programme developed by SEHK, SZSE, HKSCC and CSDCC for the establishment of","page_number":14,"box":{"x":163,"y":759,"width":778,"height":12}},{"id":"e8766983-39f8-4411-babd-7c635a13e0e4","block_type":"box","text":"mutual stock market access between mainland China (Shenzhen) and Hong Kong. The SZHK Stock Connect","page_number":14,"box":{"x":164,"y":774,"width":776,"height":11}},{"id":"7f2f727c-1178-4f6f-bf3c-51b5bee71021","block_type":"box","text":"became operati","page_number":14,"box":{"x":164,"y":788,"width":110,"height":12}},{"id":"3a3d3653-1f9a-4498-8d1a-714e7c917974","block_type":"box","text":"onal since 5 December 2016. The SSE, SZSE and SEHK will enable Funds to trade eligible","page_number":14,"box":{"x":276,"y":788,"width":663,"height":12}},{"id":"d6a8f510-567a-4991-babc-103e70b53cab","block_type":"box","text":"shares listed on the other’s market, as applicable, through local securities firms or brokers, subject to rules","page_number":14,"box":{"x":163,"y":803,"width":776,"height":12}},{"id":"8060b73f-f7d2-42ae-8e81-8e0eb216a24d","block_type":"box","text":"and regulations issued from time to time.","page_number":14,"box":{"x":163,"y":817,"width":292,"height":12}},{"id":"99c2992e-da28-4cdd-8d5c-dd8fc9eec6ec","block_type":"box","text":"Each of SHHK Stock Connect and SZHK Stock Connect is subject to a Daily Quota. 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SEHK","page_number":14,"box":{"x":437,"y":861,"width":503,"height":12}},{"id":"89bca071-a3ec-4333-8394-7b8c419a3796","block_type":"box","text":"will monitor the usage of the Northbound daily quota (","page_number":14,"box":{"x":163,"y":875,"width":390,"height":12}},{"id":"80709b73-8d71-4f80-8053-68b915b38228","block_type":"box","text":"\"","page_number":14,"box":{"x":555,"y":875,"width":4,"height":4}},{"id":"8147b32b-44e5-43e5-89d0-f43221dfb5e6","block_type":"box","text":"Northbound Daily Quota","page_number":14,"box":{"x":561,"y":875,"width":188,"height":12}},{"id":"2897950c-9c4f-4aaa-bbdb-c9da52bac4e0","block_type":"box","text":"\") for each of SHHK Stock","page_number":14,"box":{"x":751,"y":875,"width":189,"height":12}},{"id":"c5f81e6a-a295-4160-8d72-bf27a9d489c9","block_type":"box","text":"Connect and SZHK Stock Connect and publish the remaining balance of the Northbound Daily Quota on","page_number":14,"box":{"x":163,"y":890,"width":776,"height":12}},{"id":"3e6ecc39-6aa0-4994-a8fd-bb579b590295","block_type":"box","text":"15","page_number":15,"box":{"x":492,"y":954,"width":16,"height":10}},{"id":"1937c6a9-0f7b-469e-a69b-43d17dfee807","block_type":"box","text":"Information Classification: General","page_number":15,"box":{"x":34,"y":969,"width":227,"height":8}},{"id":"e311950d-5698-4fcf-a606-e17b7499d32e","block_type":"box","text":"HKEx’s website. SEHK may include or exclude securities as China Connect Securities (as defined in the","page_number":15,"box":{"x":164,"y":106,"width":775,"height":11}},{"id":"0bbdef8c-0331-4124-a5fe-52a3e45ad7ac","block_type":"box","text":"rules of exchange of the SEHK) and may change the eligibility of shares for Northbound trading on the SHHK","page_number":15,"box":{"x":164,"y":120,"width":776,"height":12}},{"id":"91d1b41a-0b74-4599-8121-006e3657235f","block_type":"box","text":"and SZHK Stock Connect. Once the remaining bala","page_number":15,"box":{"x":163,"y":135,"width":374,"height":12}},{"id":"fc5ce2cd-9909-4bac-9c32-653abfea1478","block_type":"box","text":"nce of the Northbound Daily Quota drops to zero or the","page_number":15,"box":{"x":540,"y":135,"width":400,"height":12}},{"id":"b049b108-6824-4cc0-8acd-b7f94fe431fe","block_type":"box","text":"Daily Quota is exceeded during the opening call session, new buy orders will be rejected on the relevant","page_number":15,"box":{"x":164,"y":149,"width":775,"height":12}},{"id":"fddc6020-ef16-4cb7-af30-66b01ccaa30d","block_type":"box","text":"Stock Connect (though investors will be allowed to sell their cross","page_number":15,"box":{"x":163,"y":164,"width":462,"height":11}},{"id":"71533285-8b77-4795-a0a2-e879f0a700eb","block_type":"box","text":"-","page_number":15,"box":{"x":627,"y":169,"width":5,"height":1}},{"id":"d5bcfea7-9391-4f81-bd7b-5cfbb4eb3859","block_type":"box","text":"boundary securities regardle","page_number":15,"box":{"x":633,"y":164,"width":202,"height":11}},{"id":"c42c5c93-0d11-4ac4-97fe-16ad0df9e72e","block_type":"box","text":"ss of the quota","page_number":15,"box":{"x":837,"y":164,"width":103,"height":11}},{"id":"6863b3f6-69ad-4d44-8bdb-4a717137b002","block_type":"box","text":"balance) and during the continuous auction session (or closing call auction session) for SZSE, no further buy","page_number":15,"box":{"x":164,"y":178,"width":776,"height":12}},{"id":"19d75742-2eb6-4266-b133-8a449aa97108","block_type":"box","text":"orders will be accepted for the remaining of the day; and/or","page_number":15,"box":{"x":163,"y":193,"width":425,"height":12}},{"id":"e0b0c626-faab-4b1e-bd41-5e57cff205b4","block_type":"box","text":"(iii)","page_number":15,"box":{"x":106,"y":222,"width":19,"height":12}},{"id":"83d42cc9-f28f-4619-9b4c-0b62f48bb279","block_type":"box","text":"through the CIBM Direct Access Programme. 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CFETS operates its trading platform with comprehensive","page_number":15,"box":{"x":163,"y":265,"width":776,"height":12}},{"id":"63fd9218-3f34-47cd-8be1-9cda3a8e2783","block_type":"box","text":"functions of trade matching, post trade services and information services. The CCDC and the SHCH are","page_number":15,"box":{"x":163,"y":280,"width":776,"height":12}},{"id":"36ecd949-8228-4deb-89c9-624c328b33b7","block_type":"box","text":"d","page_number":15,"box":{"x":163,"y":295,"width":8,"height":9}},{"id":"da707986-5738-438e-a7e1-5c8f2e383570","block_type":"box","text":"esignated as the central securities depositaries of the bonds traded on the CIBM, which register, hold and","page_number":15,"box":{"x":172,"y":294,"width":766,"height":12}},{"id":"e827b381-b79f-4077-97b1-e7158a382114","block_type":"box","text":"safekeep the bonds in the form of book entry, as well as dealing with interest payment and principal payment","page_number":15,"box":{"x":163,"y":309,"width":777,"height":12}},{"id":"efc9786d-e99e-40c7-b879-7240571e2e01","block_type":"box","text":"for the investors. The trading platform","page_number":15,"box":{"x":163,"y":324,"width":281,"height":11}},{"id":"4d1e3421-c856-4b06-a4d6-56184c0bf75d","block_type":"box","text":"of CFETS is directly linked with the Centralised Bond Book Entry","page_number":15,"box":{"x":452,"y":324,"width":488,"height":11}},{"id":"2b62097f-2905-47d6-930d-c25db4b78ba8","block_type":"box","text":"System of CCDC and SHCH to achieve a straight through processing of trading and settlement of bonds on","page_number":15,"box":{"x":163,"y":338,"width":776,"height":12}},{"id":"b983ce5a-db83-4eae-96df-097a91497426","block_type":"box","text":"the CIBM. 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The time for them to take actions for some types of corporate","page_number":39,"box":{"x":278,"y":327,"width":661,"height":11}},{"id":"0e902ca0-933b-4340-b691-9fb6b82d458d","block_type":"box","text":"actions of China Connect Securities may be as short as one business day only. 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Any change in the RQFII system generally, including the possibility","page_number":39,"box":{"x":330,"y":487,"width":610,"height":12}},{"id":"32b5601e-eca3-4790-bdfe-d9418722efb1","block_type":"box","text":"of the RQFII losing its RQFII status, may affect the relevant Fund’s ability to invest in eligible securities in the PRC dire","page_number":39,"box":{"x":59,"y":501,"width":855,"height":12}},{"id":"d47a4b0a-403e-4bfb-95c1-a01f870233e5","block_type":"box","text":"ctly","page_number":39,"box":{"x":917,"y":502,"width":23,"height":11}},{"id":"151e47aa-e113-41a4-988f-8909c1d2821a","block_type":"box","text":"through the relevant RQFII. In additio","page_number":39,"box":{"x":59,"y":516,"width":267,"height":12}},{"id":"0cfe6ac1-7c07-45fa-ab22-02475bd5dda0","block_type":"box","text":"n, should the RQFII status be suspended or revoked, the relevant Fund’s performance","page_number":39,"box":{"x":328,"y":516,"width":612,"height":12}},{"id":"c02fa19d-dba0-47d7-9ac1-98865e7ea849","block_type":"box","text":"may be adversely affected as the relevant Fund may be required to dispose of its RQFII eligible securities holdings.","page_number":39,"box":{"x":59,"y":530,"width":829,"height":12}},{"id":"a55fcad1-15c0-4147-ab1c-577c82d0d63d","block_type":"box","text":"RQFII quota allocation and conflict risk.","page_number":39,"box":{"x":59,"y":560,"width":279,"height":12}},{"id":"411aadd9-6a4c-4bee-97b4-42cd88cacce3","block_type":"box","text":"A Fund may not have the exclusive use of the RQFII Quota and there may be other","page_number":39,"box":{"x":348,"y":560,"width":592,"height":12}},{"id":"57afc029-55d2-462d-ba5a-3d245eb8aca9","block_type":"box","text":"entities utilising the same RQFII Quota. Situations may arise where the RQFII Licence Holder does not have sufficient","page_number":39,"box":{"x":59,"y":575,"width":881,"height":11}},{"id":"87b46d68-0166-4a8b-a255-a6a330d198c8","block_type":"box","text":"RQFII Quota to satisfy all Funds and it allocates RQFII","page_number":39,"box":{"x":60,"y":589,"width":398,"height":12}},{"id":"d0548d94-dde7-4599-b1e5-b8c95a4d9a03","block_type":"box","text":"Quota to a particular Fund at the expense of others. There is no","page_number":39,"box":{"x":466,"y":589,"width":474,"height":12}},{"id":"d474589c-7352-45bf-8d70-20b5d437fe54","block_type":"box","text":"assurance that the RQFII Licence Holder will make available RQFII Quota that is sufficient for a Fund’s investment at all","page_number":39,"box":{"x":59,"y":604,"width":880,"height":10}},{"id":"fa55ad46-fb8d-4ed0-bd20-28006b2f45ea","block_type":"box","text":"times. In extreme circumstances, a Fund may incur substantial loss","page_number":39,"box":{"x":59,"y":618,"width":486,"height":12}},{"id":"0d4df130-97eb-4cb2-b2d3-15c0750f7620","block_type":"box","text":"es due to limited investment capabilities, or may not be","page_number":39,"box":{"x":547,"y":618,"width":393,"height":12}},{"id":"919ea98e-f589-4d37-91d4-4f09d2247e99","block_type":"box","text":"able to fully implement or pursue its investment objective or strategy due to insufficiency of RQFII Quota or any applicable","page_number":39,"box":{"x":59,"y":633,"width":880,"height":11}},{"id":"446df946-9d11-4fb5-b031-5c1fe6d48eb0","block_type":"box","text":"investment limit (pursuant to regulatory requirement or otherwise) with re","page_number":39,"box":{"x":59,"y":647,"width":517,"height":12}},{"id":"6d0410f2-6fcd-42f8-8ad8-0927822fbd4a","block_type":"box","text":"spect to the Fund’s investments through an entity’s","page_number":39,"box":{"x":578,"y":647,"width":362,"height":12}},{"id":"d9b873b0-73d6-41a8-9c21-970c171e4e51","block_type":"box","text":"status as an RQFII.","page_number":39,"box":{"x":59,"y":662,"width":138,"height":10}},{"id":"0ba8ce6c-161a-4422-9c6a-9891a0167c50","block_type":"box","text":"For each RQFII Quota approved by SAFE, the relevant RQFII Licence Holder is required to utilise the RQFII Quota","page_number":39,"box":{"x":60,"y":691,"width":879,"height":12}},{"id":"33a8c2b5-a277-45a8-a7c0-3cbb7f2ff189","block_type":"box","text":"effectively within one year from the SAFE approval date. If the RQFII licence holder fails to utilise the RQFII Quota","page_number":39,"box":{"x":59,"y":706,"width":880,"height":12}},{"id":"7ce93ce5-9f17-454a-a04f-639b3ce9d084","block_type":"box","text":"effectively, SAFE could r","page_number":39,"box":{"x":59,"y":720,"width":181,"height":12}},{"id":"70fa104f-42c9-4e48-b4f7-b28c9b5b3db6","block_type":"box","text":"educe or revoke the RQFII Quota depending on the circumstances. As utilisation of the RQFII","page_number":39,"box":{"x":241,"y":720,"width":698,"height":12}},{"id":"5711d0d6-64a8-4629-8617-75c80a2d3ba5","block_type":"box","text":"Quota may depend on the subscription level of the Fund and redemptions by investors of the Fund, low subscription level","page_number":39,"box":{"x":59,"y":735,"width":879,"height":12}},{"id":"94dd7967-57df-4b8c-a10e-bd14495ac1ae","block_type":"box","text":"or large redemptions by investors of the Fu","page_number":39,"box":{"x":59,"y":750,"width":325,"height":11}},{"id":"665a5168-4751-4c48-9788-87f60548249f","block_type":"box","text":"nd might result in the RQFII Quota being reduced or lost permanently. A","page_number":39,"box":{"x":386,"y":750,"width":554,"height":11}},{"id":"14e0d2ca-e85c-4475-9d82-4dd08a7939c9","block_type":"box","text":"reduction in the amount, or revocation, of the RQFII Quota may have a material adverse effect on the Fund and the RQFII’s","page_number":39,"box":{"x":59,"y":764,"width":880,"height":12}},{"id":"ca3fe6e3-3dad-4103-bc8d-488cfee78fb6","block_type":"box","text":"ability to effectively pursue the investment strategy of the","page_number":39,"box":{"x":59,"y":779,"width":409,"height":11}},{"id":"58c61363-711e-43ae-a4ca-40d7435ce756","block_type":"box","text":"relevant Fund.","page_number":39,"box":{"x":475,"y":779,"width":102,"height":9}},{"id":"791648ba-53d4-43d1-81ab-ee2a02ea2d5a","block_type":"box","text":"The relevant PRC regulations may apply to each RQFII Quota as a whole, and not simply to investments made by a Fund.","page_number":39,"box":{"x":59,"y":817,"width":879,"height":12}},{"id":"f6e1f8e0-5c0c-45f2-a930-a21a28e5cc58","block_type":"box","text":"Thus, investors should be aware that violations of the relevant PRC regulations arising out of activities related to the RQFI","page_number":39,"box":{"x":59,"y":832,"width":875,"height":11}},{"id":"e3f41ca4-bb5a-403f-ad64-ef18c28e3468","block_type":"box","text":"I","page_number":39,"box":{"x":938,"y":832,"width":1,"height":9}},{"id":"62d34c99-d60e-49de-9ab5-ca5d72c21b18","block_type":"box","text":"Quota other","page_number":39,"box":{"x":59,"y":846,"width":86,"height":10}},{"id":"38b3193e-071e-4eb4-b3d4-d646eee34e65","block_type":"box","text":"than with respect to the investments of the Fund could potentially result in the revocation of or other regulatory","page_number":39,"box":{"x":149,"y":846,"width":791,"height":12}},{"id":"c1b52665-fc93-496c-9815-365a25cd6da6","block_type":"box","text":"action in respect of the RQFII Quota as a whole.","page_number":39,"box":{"x":59,"y":861,"width":346,"height":11}},{"id":"44603a42-e57f-47dd-93bf-263b6cfb9b84","block_type":"box","text":"40","page_number":40,"box":{"x":490,"y":954,"width":19,"height":10}},{"id":"1fb8a5e9-f587-48ac-8d6c-4a0b93587084","block_type":"box","text":"Information Classification: General","page_number":40,"box":{"x":34,"y":969,"width":227,"height":8}},{"id":"b507db25-2f35-4e72-9401-279b265e2069","block_type":"box","text":"Counterparty risk to the PRC Sub","page_number":40,"box":{"x":60,"y":106,"width":241,"height":11}},{"id":"add09917-c546-4f13-b75f-5fd8e745062b","block_type":"box","text":"-","page_number":40,"box":{"x":303,"y":111,"width":4,"height":1}},{"id":"2e243f35-bf3c-48e3-a48e-29225dc2b5e2","block_type":"box","text":"Custodian and other depositaries for PRC Investments","page_number":40,"box":{"x":309,"y":106,"width":394,"height":11}},{"id":"14cbb070-a0c0-4715-9370-9ac3acdec619","block_type":"box","text":". Any PRC Investments acquired","page_number":40,"box":{"x":705,"y":106,"width":234,"height":11}},{"id":"0d42d3be-5621-4f85-9de5-2a6f9a0d2a79","block_type":"box","text":"through an Access Programme will be maintained by the PRC Sub","page_number":40,"box":{"x":59,"y":120,"width":469,"height":12}},{"id":"0d928107-c424-4244-98d0-bd66eb619bdf","block_type":"box","text":"-","page_number":40,"box":{"x":529,"y":126,"width":5,"height":1}},{"id":"fc9ba666-f184-43cf-b8c2-70f24006bcfe","block_type":"box","text":"Custodian, in electronic form via the securities account(s)","page_number":40,"box":{"x":535,"y":120,"width":405,"height":12}},{"id":"960e46bb-9ede-41f1-ad65-ccac74337440","block_type":"box","text":"and any cash will be held in RMB cash account(s)) with the PRC Sub","page_number":40,"box":{"x":59,"y":135,"width":496,"height":12}},{"id":"0e32bb74-a215-4406-84bc-cce37bcaf296","block_type":"box","text":"-","page_number":40,"box":{"x":557,"y":140,"width":4,"height":1}},{"id":"14a63261-cef6-4c1c-b8dc-b25a1456ecbc","block_type":"box","text":"Custodian. Securities account(s) and","page_number":40,"box":{"x":562,"y":135,"width":265,"height":12}},{"id":"bd081158-2b75-4706-a131-f638852e12f0","block_type":"box","text":"Renminbi cash","page_number":40,"box":{"x":834,"y":135,"width":105,"height":9}},{"id":"e5e6bd70-b8ad-4703-a314-e1d9ae7f9530","block_type":"box","text":"account(s) for the relevant Sub","page_number":40,"box":{"x":59,"y":149,"width":220,"height":12}},{"id":"a3ff90fb-4999-425a-971d-a04c8e162c94","block_type":"box","text":"-","page_number":40,"box":{"x":281,"y":155,"width":4,"height":1}},{"id":"9df56c14-375a-4f77-aa1e-3001a9c88b8c","block_type":"box","text":"Fund in the PRC are maintained in accordance with market practice. Such account may be","page_number":40,"box":{"x":287,"y":149,"width":653,"height":12}},{"id":"fcbd8999-7f8a-4274-ab9b-887682792ed9","block_type":"box","text":"in the name of a nominee (for example, the RQFII/applicant under the CIBM Direct Access Programme) and not in the name","page_number":40,"box":{"x":59,"y":164,"width":880,"height":11}},{"id":"09ccac57-54c6-418d-878c-d143ef912801","block_type":"box","text":"of","page_number":40,"box":{"x":59,"y":178,"width":13,"height":10}},{"id":"dc03a192-f3a8-4c8b-ae58-f664bfb414d5","block_type":"box","text":"such Sub","page_number":40,"box":{"x":76,"y":178,"width":67,"height":10}},{"id":"a0c4f96c-12b7-49da-9ec0-346f8b69ddd3","block_type":"box","text":"-","page_number":40,"box":{"x":144,"y":184,"width":5,"height":1}},{"id":"281140c8-9212-4887-9256-be5d0e04c3c7","block_type":"box","text":"Fund, and the assets within such account may be held for and on behalf of clients of the nominee including but","page_number":40,"box":{"x":151,"y":178,"width":789,"height":12}},{"id":"6b3bdb05-8da6-4d56-b3c6-d92b7056dc4d","block_type":"box","text":"not limited to such Sub","page_number":40,"box":{"x":59,"y":193,"width":175,"height":9}},{"id":"969cd035-1190-48ea-b99d-8cbdea040bbd","block_type":"box","text":"-","page_number":40,"box":{"x":235,"y":198,"width":4,"height":1}},{"id":"2c847746-3fca-4bd1-9c13-f876acb6da03","block_type":"box","text":"Fund. Even though the Chinese regulators have affirmed their recognition of the concepts of","page_number":40,"box":{"x":241,"y":193,"width":700,"height":12}},{"id":"5f49cb33-21ee-4d52-9ae0-a61627ea1ffb","block_type":"box","text":"nominee holders and","page_number":40,"box":{"x":59,"y":207,"width":155,"height":10}},{"id":"d6911ae7-dc0e-42ac-8249-3a04446285ce","block_type":"box","text":"beneficial owners and applicable PRC rules, regulations and other administration measures and","page_number":40,"box":{"x":224,"y":207,"width":715,"height":12}},{"id":"ae5a4d6e-881f-4e20-8ef3-46666a8e1d4e","block_type":"box","text":"provisions generally provide for the concept of a \"nominee holder\" and recognise the concept of a \"beneficial owner\" of","page_number":40,"box":{"x":59,"y":222,"width":881,"height":12}},{"id":"c6d17e4a-6757-4202-8787-a5c9fa0fd3b7","block_type":"box","text":"securities, these concepts are relatively","page_number":40,"box":{"x":59,"y":237,"width":288,"height":11}},{"id":"0c6a0dea-ada6-4b12-90a6-ab0f43f886d3","block_type":"box","text":"new in the Chinese legal system and remain untested under the RQFII scheme.","page_number":40,"box":{"x":354,"y":236,"width":585,"height":12}},{"id":"aac9a16e-b929-44b9-8c8d-2af91d9aacd2","block_type":"box","text":"Hence, the assets of such Sub","page_number":40,"box":{"x":60,"y":251,"width":217,"height":11}},{"id":"fe57568c-ab22-45c5-b90a-3445f6b58976","block_type":"box","text":"-","page_number":40,"box":{"x":278,"y":256,"width":4,"height":1}},{"id":"700b6331-0829-4560-9080-9d8a90e26252","block_type":"box","text":"Fund held within such account may be subject to a risk of being treated as part of the assets","page_number":40,"box":{"x":284,"y":251,"width":655,"height":12}},{"id":"00a79da4-3da7-40b2-8e0f-2462cdfd001c","block_type":"box","text":"of the nominee and be vulnerable to claims by creditors","page_number":40,"box":{"x":59,"y":265,"width":394,"height":12}},{"id":"13bf591f-d0f2-4f3e-8f3e-ce5c42865d7e","block_type":"box","text":"of the nominee in the event of the insolvency of the nominee. Whilst","page_number":40,"box":{"x":458,"y":265,"width":482,"height":12}},{"id":"bfa6af75-9497-44b2-a909-31a0946a334c","block_type":"box","text":"the assets held in such accounts are segregated and held separately from the assets of the nominee and belong solely to","page_number":40,"box":{"x":59,"y":280,"width":880,"height":12}},{"id":"5f8aa142-8f81-4f8d-8684-3f4362e0ad8c","block_type":"box","text":"the relevant Sub","page_number":40,"box":{"x":59,"y":294,"width":123,"height":10}},{"id":"e30809a4-117a-4e9d-ba86-7edae2964835","block_type":"box","text":"-","page_number":40,"box":{"x":183,"y":300,"width":4,"height":1}},{"id":"2ded6ca3-b667-42b9-8eb8-dfafe089bfb4","block_type":"box","text":"Fund, it is possible that the judicial and regula","page_number":40,"box":{"x":189,"y":295,"width":349,"height":11}},{"id":"0e64b8aa-6920-4bca-8881-d6fdf2dbe457","block_type":"box","text":"tory authorities in the PRC may interpret this position","page_number":40,"box":{"x":539,"y":294,"width":400,"height":12}},{"id":"66945321-94f0-4b5a-914e-74be611422de","block_type":"box","text":"differently in the future. In addition, the assets of the Sub","page_number":40,"box":{"x":59,"y":309,"width":408,"height":12}},{"id":"8550d6f2-9d15-4696-adb0-251ceb8af051","block_type":"box","text":"-","page_number":40,"box":{"x":469,"y":314,"width":4,"height":1}},{"id":"90356529-3835-434a-8deb-45a00a327e44","block_type":"box","text":"Fund may not be adequately segregated from the assets of other","page_number":40,"box":{"x":475,"y":309,"width":466,"height":12}},{"id":"2928a8dc-1f4c-4603-8253-273736c3ec2b","block_type":"box","text":"Sub","page_number":40,"box":{"x":59,"y":324,"width":28,"height":9}},{"id":"ea37bac3-db2e-4582-ac98-fd086f0e3d37","block_type":"box","text":"-","page_number":40,"box":{"x":88,"y":329,"width":4,"height":1}},{"id":"8832b46a-e16b-4428-a813-6b73cdf23703","block_type":"box","text":"Funds, funds or clients investing through the nominee. The relevant Su","page_number":40,"box":{"x":94,"y":324,"width":515,"height":11}},{"id":"f2216cd6-e01c-4869-9bed-b110bf7c5234","block_type":"box","text":"b","page_number":40,"box":{"x":612,"y":324,"width":8,"height":9}},{"id":"1952bd19-ca69-4504-9c3c-5b9ec5415df5","block_type":"box","text":"-","page_number":40,"box":{"x":621,"y":329,"width":4,"height":1}},{"id":"b71d7f77-3d28-40be-908c-d6b187adf26f","block_type":"box","text":"Fund may also incur losses due to the acts","page_number":40,"box":{"x":627,"y":324,"width":313,"height":11}},{"id":"76beceb3-5afb-45e9-9342-240d06162489","block_type":"box","text":"or omissions of the PRC Sub","page_number":40,"box":{"x":59,"y":338,"width":209,"height":9}},{"id":"840d808f-00b1-41c7-9c72-30eb86429c00","block_type":"box","text":"-","page_number":40,"box":{"x":270,"y":343,"width":4,"height":1}},{"id":"7eda16a8-ec97-43ac-93cd-adf0adc1773c","block_type":"box","text":"Custodian in the execution or settlement of any transaction or in the transfer of any funds or","page_number":40,"box":{"x":276,"y":338,"width":664,"height":12}},{"id":"1389a093-24d3-4932-b37a-bdb0e155ba5d","block_type":"box","text":"securities.","page_number":40,"box":{"x":59,"y":353,"width":71,"height":9}},{"id":"e9500c38-dbed-4961-a2a6-75ac86250e21","block_type":"box","text":"Cash held by the PRC Sub","page_number":40,"box":{"x":59,"y":376,"width":191,"height":12}},{"id":"fbfbfba0-c45f-4710-b85e-2415190c2765","block_type":"box","text":"-","page_number":40,"box":{"x":251,"y":381,"width":4,"height":1}},{"id":"3652d27e-e3f2-480c-abd3-f24c989cc2f8","block_type":"box","text":"Custodian in the RMB cash account(s) will not be segregated in practice but will be a debt owing","page_number":40,"box":{"x":257,"y":376,"width":682,"height":12}},{"id":"fbf165ab-7cc6-47ec-b7d1-f4e7411163d3","block_type":"box","text":"from the PRC Sub","page_number":40,"box":{"x":58,"y":390,"width":134,"height":10}},{"id":"1b0dd909-8235-46a3-8961-2e2c669d2960","block_type":"box","text":"-","page_number":40,"box":{"x":193,"y":396,"width":5,"height":1}},{"id":"aa819ba0-0783-4da2-93e0-3a60c29eba68","block_type":"box","text":"Custodian to the relevant Sub","page_number":40,"box":{"x":199,"y":390,"width":216,"height":10}},{"id":"efe6b9cc-5477-4f63-a30b-413750a651d4","block_type":"box","text":"-","page_number":40,"box":{"x":416,"y":396,"width":5,"height":1}},{"id":"ff513e2b-c57f-47db-b7a2-c41d650f100d","block_type":"box","text":"Fund as a depositor. 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The Sub","page_number":40,"box":{"x":59,"y":544,"width":279,"height":12}},{"id":"260039ce-cf38-4ae3-8cf5-da64aecd3d4f","block_type":"box","text":"-","page_number":40,"box":{"x":339,"y":550,"width":5,"height":1}},{"id":"67d533ea-920c-4b94-a180-3765b6b5cd4b","block_type":"box","text":"Fund may also incur losses due to the acts or omissions of","page_number":40,"box":{"x":346,"y":544,"width":464,"height":12}},{"id":"da9ce5ec-43cd-458c-b90d-7a3a04788d8d","block_type":"box","text":"any of the PRC","page_number":40,"box":{"x":819,"y":544,"width":121,"height":12}},{"id":"f7c971fb-ff96-427d-ba0f-45b5f8647070","block_type":"box","text":"broker(s)/trading and settlement agent in the execution or settlement of any transaction or in the transfer of any funds or","page_number":40,"box":{"x":59,"y":559,"width":881,"height":12}},{"id":"012e43f1-ae5a-4edb-8955-b6ac6051fbb8","block_type":"box","text":"securities. 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At present, there is no regulatory prior approval","page_number":41,"box":{"x":506,"y":120,"width":433,"height":12}},{"id":"b23af2d8-f559-4826-b532-fc53e56349de","block_type":"box","text":"requirement for r","page_number":41,"box":{"x":59,"y":135,"width":120,"height":11}},{"id":"8eb6fe36-5e17-4b0e-98cf-31eb3548f192","block_type":"box","text":"epatriation of funds from the RQFII Quota under the above circumstances, however there is no assurance","page_number":41,"box":{"x":179,"y":135,"width":760,"height":11}},{"id":"2172c11b-5b1c-4ded-9852-0d7f0fe5c652","block_type":"box","text":"that PRC rules and regulations will not change or that repatriation restrictions will not be imposed in the future. 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