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  Home Page > Corporate Banking >Assets Custody Business >Custody Service for QDLP
Custody Service for QDLP
 

I. Business 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. Targeted customers
Pursuant to the prevailing regulations on QDLP, ICBC mainly offers QDLP custody services to: overseas sovereign funds, pension funds, donation funds, charity funds, fund of fund (FOF), insurance firms, banks, securities firms and other overseas institutional investors recognized by the Bank.

III. Scope of services
1. Account opening: open fund account, securities account and other relevant account for QDLP in accordance with requirement of the regulatory authorities;
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 the 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 the fund managers;
6. Custody report: provide fund custody and accounting reports to the fund investors and regulatory authorities on a regular basis;
7. Record keeping: keep record, accounts, statements and other materials relevant to the QDLP's custody business for at least 15 years in accordance with the government regulations.

IV. Advantages
ICBC is the largest custodian bank in China, and has kept the largest market share by assets under custody for 18 successive years.
ICBC is the most professional custodian bank in China and has a proprietary advanced custody business system. It is also the first Chinese bank that passed certification of the ISAE3402 (the former SAS70) standards, and its custody service meets the international standard requirements.
ICBC has the strongest business strength among Chinese commercial banks. It boasts an expedite clearing network, ample RMB funds and strong A-share settlement capability, and is able to provide efficient and comprehensive services to QDLP customers.

V. Business flowchart


VI. Contact methods
Please contact the Global Asset Custody Division of the Asset Custody Department of ICBC to handle relevant business:
Contacts: Jia Wenhui, Chang Yue, Fan Mei, Hao Gang, Feng Peini, Wang Zhongwei
Tel: (8610)66105757/5756/5700/5754/5755//81013751
Fax: (8610)66105753
E-MAIL: wenhui.jia@icbc.com.cn


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