China admits foreign entrants to RQFII scheme

China’s securities regulator has expanded the scope and scale of its RQFII programme to include Hong Kong-domiciled financial firms in a move welcomed as a fantastic opportunity for foreign asset managers and the HK market. The China Securities Regulatory Commission (CSRC) delivered its long-awaited RQFII 3 announcement late on Wednesday night, removing constraints on asset allocation and giving managers flexibility to design and launch products in line with prevailing market cond…