The highly anticipated mutual recognition of funds regime between Hong Kong and mainland China will become operational in July with an initial quota of Rmb300bn ($48bn) for each side.
Hong Kong’s Securities and Futures Commission and the China Securities Regulatory Commission, the regulators, have agreed on the implementation principles and the mode of operation of the Mainland-Hong Kong Mutual Recognition of Funds initiative.
The MRF will allow eligible Hong Kong-domiciled funds to be sold to retail investors in China under a streamlined procedure. Qualifying Chinese funds will enjoy the same treatment in Hong Kong.
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