China promises to grant more RQFII quota to Hong Kong and to promote mutual access to bond markets, but is vague about the launch of ETF Connect and MRF review, according to the latest pact signed by China and Hong Kong.
Tag: China
BOCHK fund hits MRF asset limit
The BOCHK All Weather China High Yield Bond Fund has stopped subscriptions after it approached the 50% limit of assets gathered in the mainland as MRF fund flows increased.
Survey: More Chinese wealth headed to private banks
China’s private wealth seems to be undergoing a shift from self-managed to professional wealth management, according to a survey from Bain & Company.
China’s WMP assets continue to grow
Wealth management products (WMPs) sold by Chinese banks remain popular despite low yields and stricter regulations, according to a recent report from China Banking Regulatory Commission.
In case you missed it – Asia Fund News and Analysis
Hermes hires new member for its APAC business development team; EFG partners with GQG Partners to distribute an EM fund; Capital Group and Samsung AM launch a retirement income solution in Korea; HSBC plans to roll out a robo-advisor in the UK; China’s new cyber-security law comes into force; and others…
Wealth management puts China PBs among world’s largest
China Merchants Bank, ICBC and Bank of China are among the top 20 largest private banks globally, according to a report from Globaldata and Private Banker International.
ETF firm VanEck receives RQFII quota
US ETF manager VanEck Investments and BOB Scotia International Asset Management are among the firms that received RQFII and QFII quotas for the first time.
In case you missed it – Asia Finance News
Irish industry body launches guidebook for Chinese managers; Japan’s Asset Management One appoints Hermes for ESG services; Singapore’s MAS and IFC collaborate to advance fintech innovation in the Asean region; Hong Kong’s SFC bans ex-Citibank employee for forgery; and others…
Vanguard joins global firms in China WFOE setup
Vanguard is the latest firm to launch a wholly foreign-owned enterprise (WFOE), enabling it to carry out various onshore investment services, according to a statement from the firm.
Industrial Securities moves into private banking
Fujian-based Industrial Securities has set up a private banking arm serving China’s high net worth individuals with RMB 6m ($873,000) or more of investable assets.
