www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

By Ding Qi (chinadaily.com.cn)
Updated: 2007-12-06 14:53

Mainland fund companies with qualified domestic institutional investor (QDII) qualification may be the first to get regulatory permission to set up branches in Hong Kong, China Securities Journal reported on Thursday.

Related readings:  QDII funds in dilemma  China's QDII quota hits US$42.17b by end-September  QDII products totter as international stocks drop  Insurance QDII to officially launch business

According to the newspaper, the China Securities Regulatory Commission (CSRC) recently solicited fund companies' opinions on a draft regulation. The draft laid down in principle the requirements and procedures for them to open branches in Hong Kong, giving preference to institutional investors focusing on overseas markets, securities insiders said.

According to the fourth supplement to the Closer Economic Partnership Arrangement (CEPA) between the mainland and Hong Kong, eligible fund companies can run branches in Hong Kong beginning January 1, 2008. Insiders believe that relevant regulations will take shape in advance, clearing the path for major QDII funds on the way to Hong Kong.

Cai Fengyi, director of Department of Investment Product of the Hong Kong Securities and Futures Commission, said earlier this week that the local financial authority is making institutional arrangements to help mainland fund companies settle there.

Market watchers said the thriving QDII business has encouraged mainland fund companies to go closer to the Hong Kong market, benefiting the development of both markets and relevant institutions.