China Securities Net reported that on December 15, the first private fund product that the foreign investor can subscribe though wholly foreign-owned private equity fund manager (WFOE PFM) fund product by using QFII/RQFII successfully landed in Shanghai. The products subscribed through QFII/RQFII this time are Baring China Bond No. 1 Private Securities Investment Fund issued by Baring Investment Management (Shanghai) Co., Ltd. We believe that regardless of the relaxation of the upper limit of the investment quota of a single QFII institution in February 2016 and the reduction of the QFII principal lock-up period from 1 year to 3 months, or the formal cancellation of the 3-month lock-up of QFII and RQFII principals in June 2018 as well as the formal cancellation of QFII and RQFII quota restrictions, allowing QFII/RQFII to invest in domestic private equity investment funds in September to expand the scope of investment, all indicate that China’s financial market continues to open up to the outside world and increase the convenience of foreign capital inflows. In the future, the foreign investment is expected to accelerate the inflow to China's stock and bond markets.

中国证券网报道，12月15日，全国首单境外投资者通过QFII/RQFII认购外商独资私募证券投资基金管理人（WFOE PFM）基金产品在上海顺利落地，此次通过QFII/RQFII认购的产品为霸菱投资管理（上海）有限公司发行的霸菱中国综合债券1号私募证券投资基金。我们认为，无论2016年2月放宽单家QFII机构投资额度上限、并将QFII本金锁定期从1年缩至3个月，或是2018年6月份正式取消QFII、RQFII本金3个月锁定期要求，再到正式取消QFII、RQFII额度限制以及9月份允许QFII/RQFII投资境内私募投资基金等扩大可投资范围，都表明我国金融市场对外开放力度的不断加大和外资流入便利性的不断提升，未来外资有望加速流入中国股市和债市