China’s onshore capital markets remain among the most dynamic and strategically important investment destinations globally. For foreign institutions, gaining regulated and efficient access to these markets is essential for deploying long-term capital, participating in structural growth opportunities, and engaging with the world’s second-largest economy.
Overview of China’s Onshore Capital Markets
China’s onshore capital markets comprise a broad range of domestic financial markets that facilitate the trading of equities, bonds, and other RMB-denominated financial instruments. Core components include the equity markets operated by the Shanghai and Shenzhen Stock Exchanges, the onshore bond market covering government and corporate debt, and interbank and money markets that support liquidity and fixed-income activity.
Compared with offshore markets such as Hong Kong, China’s onshore markets operate under a distinct regulatory framework, currency regime, and investor access structure. Historically, access for foreign investors was limited. However, regulatory reforms and structured access programmes have gradually expanded international participation.
As a result, China’s onshore markets have become an increasingly important component of the global investment landscape. They provide exposure to China’s domestic economy and market dynamics that often differ from developed or offshore markets.
QFII as a Core Pathway to China’s Onshore Markets
For foreign investors seeking direct and regulated access to China’s onshore capital markets, the Qualified Foreign Institutional Investor (QFII) regime remains one of the most established pathways. The QFII framework allows approved foreign institutions to invest directly in RMB-denominated securities within mainland China, including equities, bonds, and other eligible financial instruments.
By operating within China’s onshore regulatory environment, QFII creates a structured mechanism for institutional participation in domestic secondary markets. The framework also supports compliance with capital controls, reporting obligations, and risk management requirements.
Over time, regulatory reforms have improved the flexibility and operational efficiency of the QFII regime. These developments continue to strengthen QFII’s role in facilitating long-term foreign institutional investment in China.
Boman Group as a China Onshore Investment Partner
Through its subsidiary Boman Asset Management, Boman Group participates in China’s onshore investment landscape. The firm supports overseas institutional investors seeking regulated access to China’s onshore secondary markets.
Boman Group has also obtained Qualified Foreign Limited Partner (QFLP) qualification. These regulatory capabilities allow the firm to connect China’s primary and secondary markets, creating an integrated platform for foreign capital participation across the investment lifecycle.
This structure allows investors to participate in private and growth-stage opportunities as well as listed securities. By linking different market segments, Boman aims to support long-term cross-border capital flows and investment collaboration.
Building on this foundation, Boman Group plans to introduce overseas institutional capital into China’s domestic market. The firm focuses on leading enterprises in emerging industries, potential pre-IPO companies, and fundamentally strong but undervalued domestic assets. These investments aim to support industrial upgrading and cross-border capital cooperation.
In November 2024, Boman Group established its China headquarters and cross-border investment and financing service centre in the Tianjin Free Trade Zone. The company also launched an Australia–China Business Expansion Platform.
Since then, Boman has partnered with multiple local enterprises, including Rongcheng Materials and Binhai Construction Investment Group. These partnerships have supported several project-level cooperation agreements.
With combined QFII and QFLP capabilities, a local presence in China, and cross-border execution experience, Boman Group positions itself as a long-term partner for overseas investors seeking structured and compliant access to China’s onshore capital markets and industrial opportunities.
Disclaimer：This material is provided for general informational purposes only and does not constitute investment advice, financial advice, legal advice, or an offer, solicitation, or provision of financial services. Any references to regulatory frameworks, qualifications (including QFII or QFLP), or cross-border investment arrangements are subject to applicable laws, regulatory requirements, and necessary approvals in relevant jurisdictions. Such references do not constitute an invitation to participate in any specific investment.
All activities described must be conducted in accordance with applicable laws and regulations. You should seek independent professional advice before making any investment or business decisions.
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