Chinese banks to invest in the US under QDII
A memorandum of understanding signed with the Securities & Exchange Commission in the US makes it the fifth market in which Chinese banks can invest.
The China Banking Regulatory Commission (CBRC) says it has signed a memorandum of understanding with the Securities & Exchange Commission in the US. The agreement is a de facto approval for Chinese banks and trusts to begin overseas investments in the US. It is similar to a previous understanding signed with the Hong Kong Securities & Futures Commission which allows Chinese banks to invest in equities, fixed income and mutual funds recognised by the US regulator.Christopher Co…
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